NC sandwich cracker maker Lance and potato chip producer Snyder’s of Hanover announce merger

NC snack makers Lance, Snyder’s of Hanover merge

RALEIGH, N.C. — Sandwich cracker maker Lance Inc., is merging with privately held pretzel and snack maker Snyder’s of Hanover, Pa.

The value of the deal announced Thursday was not disclosed.

The share-for-share transaction would leave shareholders of both companies owning about 50 percent of the combined company, which is to be called Snyder’s-Lance Inc. and be headquartered in Charlotte, N.C., Lance’s hometown. Some offices would remain in Hanover, Pa.

Lance shareholders also would receive a $3.75-per-share special dividend.

The deal is expected to close in the fall if shareholders and regulators approve it.

Shares of Lance soared more than 28 percent to $20.49 Thursday afternoon.