ASHLAND — Two of the largest snack companies in the U.S. announced Thursday they will combine forces as Snyder's-Lance Inc. in what company officials called "a merger of equals."
The deal between the snack food giants would create a larger company, with $1.6 billion in combined sales, a spokesperson said.
"We are extremely pleased with the opportunity to combine two leading snack food companies in such a strategically compelling merger," Carl E. Lee Jr., President and CEO of Snyder's, said in a statement Thursday.
The privately held Snyder's of Hanover, based in Hanover, Pa., has been in operation since 1909, specializing in pretzels. Lance Inc., with headquarters in Charlotte, N.C. and an Archway plant in Ashland, has been providing sandwich crackers, potato chips, and cookies since 1913.
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