Snyder’s-Lance to be Acquired by Campbell Soup Company


Fried Frank acted as counsel to Goldman Sachs as financial advisor to Snyder's-Lance (NASDAQ: LNCE) in its agreement to be acquired by Campbell Soup Company (NYSE: CPB) for US$50.00 per share, an all-cash transaction. The purchase price represents a premium of approximately 27% to Snyder's-Lance's closing stock price on December 13, 2017. The acquisition of Snyder's-Lance will accelerate Campbell's access to faster-growing distribution channels including the convenience and natural channels. The transaction, which has been approved by the boards of directors of both companies is expected to close by the second quarter of 2018. Snyder's-Lance manufactures and markets snack foods throughout the United States and internationally. Campbell Soup Company manufactures a range of high-quality soups and simple meals, beverages, snacks, and packaged fresh foods.

The Fried Frank team was led by corporate partner Philip Richter and included corporate special counsel Brian A. Blitz.