New Jersey-based Campbell buys Snyder's-Lance for $4.87B

Posted: Updated:
(AP Photo/Mel Evans, File) FILE - In this June 19, 2010 photo, people walk along inside the new building at the Campbell Soup Co. headquarters, in Camden, N.J. (AP Photo/Mel Evans, File) FILE - In this June 19, 2010 photo, people walk along inside the new building at the Campbell Soup Co. headquarters, in Camden, N.J.

NEW YORK (AP) -- Campbell Soup will spend $4.87 billion in cash for Snyder's-Lance, gorging on a snack market that has grown increasingly competitive.

The soup maker said Monday that the acquisition will allow it to expand its distribution channels in the crowded field.

Campbell Soup Co., based in Camden, New Jersey, is paying $50 per share, a 6.8 percent premium to Snyder's-Lance's closing price Friday. That's about a 27 percent premium to the stock's close last Wednesday, just before rumors of a deal began to circulate.

Snyder's-Lance, based in Charlotte, North Carolina, makes pretzels, chips. It's most well-known brands include Snyder's of Hanover, Kettle Brand and Pop Secret. It will join the Campbell's division that makes Pepperidge Farm and Goldfish crackers.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Top StoriesTop StoriesMore>>

  • News

    Clifton police investigate possible child luring attempt

    Clifton police investigate possible child luring attempt

    Thursday, October 18 2018 7:40 PM EDT2018-10-18 23:40:07 GMT
    Police: Man attempted to lure young girl into van in CliftonPolice: Man attempted to lure young girl into van in Clifton

    Clifton police have issued a warning to the community after a possible attempted child luring incident.

    Clifton police have issued a warning to the community after a possible attempted child luring incident.

  • Forecast: Freeze warnings overnight; temps around 60 Friday

    Forecast: Freeze warnings overnight; temps around 60 Friday

    Freeze warnings and watches in effect overnight as temperature are expected to be in the mid-30s.

    Freeze warnings and watches in effect overnight as temperature are expected to be in the mid-30s.

  • News

    $1 million Powerball ticket sold in New Jersey

    $1 million Powerball ticket sold in New Jersey

    Thursday, October 18 2018 12:23 PM EDT2018-10-18 16:23:11 GMT
    $1 million Powerball ticket sold in New Jersey$1 million Powerball ticket sold in New Jersey

    A $1 million ticket was sold at a Shop-Rite in Morris County that matched five of the five white balls from Wednesday evening's drawings.

    A $1 million ticket was sold at a Shop-Rite in Morris County that matched five of the five white balls from Wednesday evening's drawings.

  • New Jersey SlideshowsSlideshowsMore>>

  • Just Married in New Jersey

    Just Married in New Jersey

    News 12 New Jersey wants to announce your wedding.News 12 New Jersey wants to announce your wedding.

    News 12 New Jersey wants to announce your wedding. If you were married in the past 90 days, please submit your photos via Twitter or Instagram using #JustMarriedNJ.  

    News 12 New Jersey wants to announce your wedding. If you were married in the past 90 days, please submit your photos via Twitter or Instagram using #JustMarriedNJ.  

  • Your 2018 New Jersey Fall Fun Photos

    Your 2018 New Jersey Fall Fun Photos

    Wednesday, September 5 2018 2:18 PM EDT2018-09-05 18:18:06 GMT
    Send us your Fall Fun Pics!Send us your Fall Fun Pics!

    Is fall your favorite season? Are you and your family doing fun things this fall? Whether you're out apple or pumpkin picking, at a farm or corn maze or just hanging around in your home or yard, News 12 New Jersey want to see your Fall Fun pics! Send them via Twitter or Instagram with the #NJFallFun and they might end up on air or on News12.com.

    Is fall your favorite season? Are you and your family doing fun things this fall? Whether you're out apple or pumpkin picking, at a farm or corn maze or just hanging around in your home or yard, News 12 New Jersey want to see your Fall Fun pics! Send them via Twitter or Instagram with the #NJFallFun and they might end up on air or on News12.com.

  • Workers wanted: Companies hiring for the holidays

    Workers wanted: Companies hiring for the holidays

    Companies around the nation are hiring seasonal workers for the holiday shopping season.Companies around the nation are hiring seasonal workers for the holiday shopping season.
    Companies around the nation are hiring seasonal workers for the holiday shopping season.Companies around the nation are hiring seasonal workers for the holiday shopping season.

    Companies around the nation are hiring seasonal workers for the holiday shopping season. 

    Companies around the nation are hiring seasonal workers for the holiday shopping season. 

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."