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Campbell Soup: acquisition of Snyder's-Lance.

(CercleFinance.com) - Campbell Soup has announced an agreement to takeover Snyder's-Lance at 50 dollars per share in cash, representing a 27% premium relative to Snyder's-Lance last share price, which has not been affected by articles about a potential transaction.

The deal will enable the soup maker to strengthen its portfolio with brands of pretzels, sandwich crackers and other snacks. Over the twelve months to the end of September, Snyder's-Lance generated revenues of 2.2 billion dollars.

Campbell Sopup expects this deal to result in cost synergies of approximately 170 million dollars by the end of fiscal year 2022, with the acquisition accretive from FY 2019.

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