The acquisition creates an international snack foods company with an diversified product portfolio, according to the companies. Snyder’s-Lance says the addition of Kettle Brand potato chips, Kettle Chips, Pop Secret popcorn, Emerald snack nuts and Diamond of California culinary nuts positions the company to compete more broadly and with enhanced capabilities. The purchase increases the company’s annualized net revenue to approximately $2.6 billion and also expands the company’s overall footprint in “better-for-you” snacking and increases its natural food channel presence.
“We are very excited to have completed the acquisition of Diamond Foods and look forward to starting this new chapter in our company’s history. Diamond has been a powerful industry leader in snack foods with exceptional brands, and we’re excited to bring these two great teams together,” said Carl E. Lee Jr., president and CEO of Snyder’s-Lance. “By bringing together the resources and expertise of the Snyder’s-Lance and Diamond teams, we expect to see widening profit margins as we gain synergies and progress through our integration plans over the next 12 to 24 months.”