Charlotte-based Snyders-Lance has closed on a $340 million deal to buy Snack Factory, LLC, the company said Friday.
Snack Factory makes Pretzel Crisps, which are exceptionally thin, flat crackers that are all natural and have multiple uses in snacking, Snyders-Lance said in a statement.
The acquisition, which was announced in early September, gives Snyders-Lance a foothold in the deli-bakery section of supermarkets, which the company called an attractive and growing segment.
The deal was all cash, with Snyders-Lance acquiring Snack Factory from VMG Partners, a company that invests in emerging consumer companies. Snyders-Lance expects the deal to add 10 cents to its earnings per share in 2013.