- Snyder's-Lance, Inc., the nation's largest manufacturer of salty snacks, has increased its stake in organic and non-GMO snack maker Late July.
- Snyder's-Lance, based in Charlotte, NC, said it would create a "Better for You" division that would concentrate on distributing healthier snacks, such as those in the Late July portfolio.
- The announcement came as Snyder's-Lance, maker of snack brands such as Cape Cod, Snyder's of Hanover, Archway, and more, reported earnings and revenue that fell short of expectations.
Back in May, Snyder's-Lance sold its private-label manufacturing business to Shearer's Foods in a $430 million deal. Now it would appear that Snyder's-Lance is even more fully committing to the branded snack world.
Given that Americans are developing tastes for something healthier and less predicable than the classic potato chip or pretzel - the capacity increases by Calbee and the rise of Beanitos both attest to that - using Late July as the key to such a commitment seems like a wise move.