Lance Inc. on October 13 reported that it has completed the previously announced purchase of the Stella D'oro brand as well as certain manufacturing equipment and inventory from Stella D'oro Biscuit Company Inc. Terms of the purchase agreement were not disclosed. Lance used available liquidity under its current credit facilities to fund the acquisition.
Established in 1932, Stella D'oro is a leading brand in the specialty cookie segment with a rich heritage and strong brand equity. Stella D'oro products include shelf stable cookies, breakfast treats, breadsticks and biscotti that are sold in grocery stores and mass merchants throughout the United States, with a high concentration in the Northeast and Southeast regions of the country.
Lance Inc., headquartered in Charlotte, N.C., manufactures and markets snack foods throughout much of the United States and other parts of North America. The cmpany's products include sandwich crackers and cookies, potato chips, crackers, cookies, other snacks, sugar wafers, nuts, restaurant style crackers and candy. Lance has manufacturing facilities in North Carolina, Iowa, Georgia, Massachusetts, Texas, Florida, Ohio, and Ontario, Canada. Products are sold under the Lance, Cape Cod, Tom's, and Archway brand names along with a number of private label and third party brands. The company's products are distributed through its direct-store-delivery system, a network of independent distributors and direct shipments to customer locations.