Snyder's-Lance sells culinary nut business to Blue Road Capital

Snack food manufacturer Snyder’s Lance has announced the sale of its culinary nut business, Diamond of California, to Blue Road Capital, according to a company release. Details of the transaction have not been disclosed.

"This strategic transaction will allow us to concentrate on our core business of providing our consumers and retail partners with our premium portfolio of snack brands focused on better ingredients, quality and taste," said Carl E. Lee, Jr., President and Chief Executive Officer at Snyder's-Lance.

Snyder’s Lance, through this sale, will be able to reduce leverage and provide incremental balance sheet flexibility.

The transaction is expected to be completed by end of 2016.  

Wells Fargo Securities, LLC acted as exclusive financial advisor and Troutman Sanders LLP acted as legal counsel to Snyder's-Lance in connection with this transaction.

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