Lance to Purchase Stella D'oro Brand

Iconic brand will enhance Lance portfolio, benefit from additional resources

CHARLOTTE, N.C. -- Lance Inc. has announced that it has entered into an agreement with Stella D'oro Biscuit Co. Inc. to purchase the Stella D'oro brand as well as certain manufacturing equipment and inventory. Lance will manufacture the Stella D'oro products in its Ashland, Ohio, bakery. The company plans to close on the purchase early in the fourth quarter. Terms of the purchase agreement were not disclosed.

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 [image-nocss] cookies, breakfast treats, breadsticks and biscotti that are sold in grocery stores, convenience stores and mass merchants throughout the United States, with a high concentration in the Northeast and Southeast regions of the country.

"We are excited about the opportunity to add the Stella D'oro brand to our growing portfolio of niche snack food brands. We believe that the additional resources that can be provided under the Lance umbrella will help this iconic brand achieve renewed growth," said David V. Singer, president and chief executive officer of Lance. "The Stella D'oro brand will make us a more valuable partner with our customers and leverage our existing capabilities to support our trend of profitable growth."

Lance, headquartered in Charlotte, N.C., manufactures and markets snack foods throughout much of the United States and other parts of North America. The company'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 products are distributed through its direct-store-delivery (DSD) system, a network of independent distributors and direct shipments to customer locations. Products are distributed widely through grocery and mass merchant stores, c-stores, club stores, food service outlets and other channels.