Snyder's-Lance, Inc. engages in manufacturing, distributing, marketing and selling snack food products. The company’s brands include Snyder’s of Hanover in the pretzel category, and Lance in the sandwich cracker category. Products The company’s products include pretzels, sandwich crackers, kettle cooked chips, pretzel crackers, cookies, potato chips, tortilla chips, nuts, restaurant style crackers, and other salty snacks. Its products are packaged in various single-serve, multi-pack and family-size configurations. The company also sells Partner brand products, which consist of other third-party branded products that the company sells to its independent business owners (IBO) through its direct-store-delivery distribution network (DSD network), in order to broaden the portfolio of product offerings for its IBOs. In addition, the company contracts with other branded food manufacturers to produce their products and periodically sell certain semi-finished goods to other manufacturers. Intellectual Property The company owns various registered trademarks for use with its branded products, including Snyder’s of Hanover, Lance, Cape Cod, Snack Factory Pretzel Crisps and Late July (Core’ brands); and Tom’s, Archway, Jays, Stella D’oro, EatSmart, Krunchers!, and O-Ke-Doke (Allied’ brands). Strategy The company’s strategy is to win as a provider of premium, differentiated snacks, driven by its national distribution network, which includes its DSD network and its direct distribution network (National Distribution Network). Research and Development The company’s research and development costs were approximately $7.6 million in 2014. Distribution The company distributes snack food products throughout the United States using its DSD network. Its DSD network is made up of approximately 3,100 routes that are primarily owned and operated by IBOs. Through its direct distribution network, the company distributes products directly to retail customers or to third-party distributors using freight carriers or its own transportation fleet. Customers Through its DSD network, the company sells its Branded and Partner brand products to IBOs that distribute to grocery/mass merchandisers, club stores, discount stores, convenience stores, food service establishments and various other retail customers, including drug stores, schools, military and government facilities and ‘up and down the street’ outlets, such as recreational facilities, offices and other independent retailers. In addition, the company sells its Branded products directly to retail customers and third-party distributors. The company’s sales to Wal-Mart Stores, Inc. were approximately 14% of net revenues in 2014. History The company was founded in 1912. It was formerly known as Lance, Inc. and changed its name to Snyder’s-Lance, Inc. in 2010.
(LNCE:Consolidated Issue Listed on NASDAQ Global Select )
13024 Ballantyne Corporate Place
Charlotte, NC 28277
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