Snyder's-Lance, Inc. announced the creation of a new, "better for you" division as well as an increase in its investment in Late July Snacks, LLC. The announcement supports the Snyder's-Lance goal of creating a stronger presence in a healthier, more sustainable food industry.
"We see our company growing and evolving to become the trusted leader in snacking, including better for you snacking options," said Carl E. Lee, Jr., President and Chief Executive Officer of Snyder's-Lance. "To support this direction, we needed the right partner which we found in Nicole Dawes and Late July. While we have been ahead of our competitors in providing healthy snacks, this new division intensifies that focus and enables us to become the trusted leader in healthy snacking and sustainable food. This effort continues our overall transformation as a company which started with the acquisition of Snack Factory ®Pretzel Crisps® in late 2012 and the acquisition of Baptista's® Bakery, as well as the divestiture of Lance Private Brands in the middle of this year.
Today, Snyder's-Lance is uniquely positioned to succeed as we have scale and an industry leading national Direct Store Delivery ("DSD") distribution that is not always accessible to emerging brands – yet we are nimble and able to respond to rapidly changing consumer tastes with our exceptional innovation capabilities. We look to take full advantage of this position, bringing significant resources and research capabilities to Late July in support of their mission to expand organic and non-GMO snacks."
In just a few years, Late July has become a leader in the industry with the number one organic tortilla chip. Nicole Bernard Dawes, CEO and Founder of Late July will retain her ownership position in the company, and with her entire team will continue to run Late July from their Boston, MA and San Francisco Bay Area offices. "I wasn't looking to sell out, so the opportunity to create a better for you platform with a focus on organic and non-GMO foods from the ground up was just what I was looking for," said Ms. Dawes. "What excites me most about our relationship with this new division is the ability to continue being an alternative to the big food conglomerates and the guarantee that Late July will always be synonymous with leadership and advocacy for organic and non-GMO foods. This partnership also makes Late July the only organic, non-GMO food brand with access to its own national direct store distribution (DSD) system which is a game-changer for sustainable food."