Campbell, Snyder’s-Lance acquisition forms new snacking unit
After it was previously announced that Campbell Soup was looking to acquire Snyder’s Lance, both companies have revealed that acquisition has now been completed for $50 per share in an all-cash transaction, which represents an enterprise value of approximately $6.1 billion.
“Snyder’s-Lance represents a strategic and transformative acquisition for Campbell, creating a $10 billion company with nearly half of our annual net sales in the faster-growing snacks category,” Denise Morrison, Campbell’s president and chief executive officer, said. “The combination of Campbell and Snyder’s-Lance creates a unique, diversified snacking portfolio of differentiated brands and a large variety of better-for-you snacks for consumers. I am excited about the combination and confident that it will create significant shareholder value through both revenue growth and cost synergies.”
The completion of this acquisition will allow the Camden, N.J.-based company to combine the Pepperidge Farm and Snyder’s-Lance portfolios to form a new unified snacking organization in the United States called Campbell Snacks.
The former president of the U.S. biscuits and snacks division, Carlos Abrams-Rivera, will lead the division and report to Luca Mignini, the president of global biscuit and snacks.
“We carefully selected leaders from Campbell and Snyder’s-Lance to form the Campbell Snacks leadership team based on their expertise and understanding of how to leverage both businesses to support overall growth and profitability across the enterprise,” Abrams-Rivera said. “The Campbell Snacks team will focus on optimizing the value of our U.S. snacks business to deepen our partnership with customers through the power of the combined portfolio.”
The newly formed company’s portfolio will now include the Pepperidge Farms, Goldfish, Milano, Snyder’s of Hanover, Lance, Kettle Brand, Kettle chips, Cape Cod, Snack Factory Pretzel Crisps, Emerald and Late July brands.
“We have the insights and know-how in snacks to execute and grow in this space. I am very confident that Carlos and the expertise of the Campbell Snacks leadership team will continue to drive momentum in the businesses and achieve the cost synergies we have outlined. We are taking a disciplined approach to the integration of Snyder’s-Lance to ensure its success,” Mignini said.
Taco Bell launches tortilla chips inspired by sauce flavors
Taco Bell is literally thinking outside the box with their latest product announcement. The chain that is known for its fast-food offerings has revealed that it will be taking the flavors of its sauce packets and incorporating them into tortilla chips that will be hitting retailers nationwide in May.
Available in three options, the chips are packaged in a bag that resembles the sauce packets. Though the resemblance doesn’t stop with just the designs, saucy words of wisdom also will be included on the packaging, the Irvine, Calif.-based company said.
“This launch of our first line of sauce packet-inspired chips gives our fans a new way to access a taste of Taco Bell,” Marisa Thalberg, chief brand officer, Taco Bell said. “Our sauce packets are one of the brand’s most unique aspects and were the natural choice for both the flavors and packaging of our tortilla chips.”
Featured flavors of the crunchy snack will include:
- Classic tortilla chips that contain a salted and crisp flavor;
- Mild tortilla chips that feature the flavor of Taco Bell’s mild sauce and a hint of three chili peppers and cumin; and
- Fire tortilla chips that include a hint of the brand’s fire sauce flavor as well as jalapeno, chili peppers and paprika.
The fire and mild flavors will be sold in 1-oz., 3.5-oz., 11-oz., and 30-oz. bags, while the classic chips will come in 1-oz., 3.5-oz., 13-oz., and 30-oz. bags. Final pricing will be set by grocery and retail outlets.
Rold Gold adds heat to pretzel crisps
PepsiCo’s Frito-Lay division is bringing a bold new flavor to its pretzel line, Rold Gold. The Plano, Texas-based company is joining the trend of spicy flavors by launching the Flamin’ Hot Thin Crisps.
This new offering contains the well-known texture of Rold Gold’s pretzels with the added flavor of Flamin’ Hot, the same flavor popularized by the Cheetos brand of products, the company said.
In addition to launching these new pretzels, the company also is announcing Rold Gold’s partnership with the National Hockey League, or NHL, as the official snack of the sport. The company will advertise in NHL arenas during various games, activate consumer events around the sports jewel events and eventually include the NHL symbol on Rold Gold packaging.
“Flamin’ Hot is a long-time fan-favorite — it’s become a part of pop culture in many ways so we’re thrilled to bring it to Rold Gold,” Jeannie Cho, vice president of marketing, Frito-Lay North America, said. “Many of our Rold Gold fans are also hockey fans. So a partnership with the NHL made perfect sense to bring our brands and fans together.”
Rold Gold Famin’ Hot Thin Crisps are available for purchase at retailers nationwide for the suggested retail price of $3.29 for an 8.75-oz. bag.