Charlotte-based snack maker Snyder’s-Lance has bought a portion of a small Colorado manufacturer as way to boost its growing “better-for-you” portfolio.
Natural Foodworks Group, based in Denver, provides to natural and organic food brands quality testing, transportation, procurement, warehousing and other logistical services, according to its website.
The company enables start-up brands to reach the production scale required to serve national retailers, Snyder’s-Lance said. Terms of the deal were not disclosed.
“We look forward to leveraging their expertise and innovative production capabilities to bring some exciting new items to market,” Snyder’s-Lance CEO Carl Lee said in a statement.
Snyder’s-Lance, known for Lance peanut butter sandwich crackers, has been growing its offerings of snacks it considers lighter or healthier. Last year, for example, the company bought the British popcorn maker, Metcalfe’s skinny Limited. It also bought Diamond Foods, then later sold Diamond’s nut business but retained its Pop Secret popcorn and Emerald snack nuts.
Currently, sales of “better-for-you” snacks comprise about one-third of the Snyder’s-Lance portfolio. The plan for the next 12 months is to grow it to over 40 percent, CEO Lee said in an earnings call with analysts earlier this week.