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Snyder’s-Lance to acquire Diamond Foods

BY David Salazar

 
CHARLOTTE, N.C. — Snack maker Snyder’s-Lance announced Wednesday that it had reached an agreement to acquire all of Diamond Foods’ outstanding shares in a $1.91 billion deal. The company will pay Diamond’s shareholders $12.50 in cash alongside 0.775 Snyder’s-Lance shares once the transaction closes, giving them a 26% ownership. 
 
"Diamond Foods is a clear industry leader with exceptional brands, and we're excited to bring together these two highly complementary companies," Snyder’s-Lance president and CEO Carl Lee, Jr. said. “We plan to take full advantage of the combined sales forces of Snyder's-Lance and Diamond to drive stronger top line growth than either company could achieve alone.  Additionally, we will have an opportunity to grow internationally with Diamond's existing European platform, bringing unique products to consumers in that market.”
 
The combination of the two companies will bring under one portfolio such snack brands as Pop Secret, Kettle Chips, Cape Cod snacks, Emerald Nuts and Snyder’s of Hanover. 
 
“The combination of Diamond and Snyder's-Lance provides the opportunity to create significant value for our stockholders and offers immediate benefits for consumers," Diamond Foods president CEO Brian Driscoll said.  “This transaction will create a diversified, branded snacking portfolio with greater operating scale. In addition, we expect the transaction will provide us with greater resources to further develop new product innovation and broaden our geographic reach and route to market across complementary customer bases.”
 
Driscoll will join Snyder’s-Lance’s board of directors once the transaction closes, likely in early 2016.
 

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Mondelez announces new sustainability goals

BY David Salazar

DEERFIELD, Ill. — Global snack maker Mondelez International on Wednesday announced a new set of goals to make the company’s operations more sustainable by 2020 as part of its Call for Well-being. The company will focus on curbing carbon dioxide emissions, reducing the deforestation in its agriculture supply chain, reduce water use in high-priority areas and eliminate packaging material. 

“Our Sustainability 2020 goals place us at the forefront of the fight against climate change and support our ambition to be the leader in well-being snacks, while reducing costs and generating efficiencies that accelerate our growth,” Mondelez EVP and Mondelez Europe president Hubert Weber said. “In 2014, we were a year ahead of schedule in accomplishing our 2015 goals for packaging, greenhouse gas emissions and net waste. These new goals take our commitment a step forward using the power of our global resources and partners to drive meaningful change at scale.”

Mondelez plans to use science-based targets to reduce CO2 emissions by 15 percent by 2020, and its deforestation will focus on cocoa and palm oil supply chains while recording and reporting its carbon footprint reduction that results from these efforts. It will also continue its Cocoa Life campaign, which aims to make sustainably source its cocoa from local farmers. 

“Our Sustainability 2020 initiatives on energy, water and waste reduction will improve efficiency and create the fuel to accelerate growth,” Weber said. “The goals also support our cocoa and wheat programs to ensure we have a sustainable supply of these key raw materials.”

The company also plans to eliminate some 65,000 tons of packaging and reduce its manufacturing waste by 20%. For more information and additional goals, see the infographic below. 

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Herr’s raises breast cancer awareness, funds with limited-edition pretzels

BY David Salazar

NOTTINGHAM, Pa — Herr’s is working with the American Cancer Society during Breast Cancer Awareness Month to raise money and awareness with a limited-edition pretzel. The ribbon-shaped whole grain pretzels with flax seed and honey are being sold in a specially designed pink bag, and Herr’s is donating $0.05 from each bag sold to the for the ACS’ “Making Strides Against Breast Cancer” initiative.

“At Herr’s, we are passionate about supporting philanthropic organizations that give back to the communities we serve,” said Ed Herr, president of Herr Foods. “We are proud to partner with the American Cancer Society’s ‘Making Strides Against Breast Cancer’ program to help finish the fight and support all those who are affected by breast cancer.”

The special-edition pretzels will be available through mid-November. 

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