Deals
Campbell to Acquire Snyder's-Lance Snacks for $4.9 Billion
- Per-share price of $50 is 27 percent premium to snack maker
- Deal will ‘dramatically transform Campbell’ CEO Morrison says
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Campbell Soup Co. is hoping a deeper push into salty snacks can help end a prolonged sales slump.
The nearly 150-year-old company, struggling as consumers turn away from canned soup, has agreed to buy Snyder’s-Lance Inc. for about $4.9 billion in cash, giving it brands including Cape Cod potato chips, Snyder’s pretzels and Pop Secret popcorn. The purchase will add to Campbell’s earnings in fiscal 2019, the soup-maker said Monday.