Snyder’s-Lance signs agreement to acquire Diamond Foods

Snyder’s-Lance, Inc. and Diamond Foods, Inc. have announced entering into a definitive agreement under which Snyder’s-Lance would acquire all outstanding shares of Diamond Foods in a cash and stock merger transaction for approximately $1.91 billion, including the assumption of approximately $640 million of indebtedness. The agreement has been approved by the Boards of Directors of both companies. Diamond Foods is a leading snack food company with five brands including Kettle Brand potato chips and KETTLE Chips. Each Diamond Foods brand brings unique strengths that fit with Snyder’s-Lance’s strategic plan, while increasing the company’s annualized net revenue to approximately $2.6 billion. More