Posted 3/16/2008 07:32 pm
Updated 11 months ago
Lance Inc. of Charlotte, N.C., on Friday announced that it has acquired privately held Brent & Sam's Inc. of North Little Rock, which makes branded and private label premium gourmet cookies.
Terms of the cash purchase were not disclosed. Lance said the purchase was funded with a draw under its existing credit facility.
Brent & Sam's was founded in 1985. It makes a variety of gourmet style cookies sold under the Brent & Sam's brand as well as under private label brands controlled by retail customers.
"Adding an established line of high-quality premium cookies to our product offering will help broaden and diversify our product portfolio, capitalize on the growth in premium private label products and make us a more valuable partner to our customers," said David V. Singer, President and CEO of Lance.
"The Brent & Sam's team has built a reputation for delivering great tasting, innovative premium products for its customers, and we look forward to continuing their trend of innovation, customer service, growth and profitability."
"I am excited that Brent & Sam's strong heritage and product capabilities will be enhanced by Lance's significant distribution network, and I am confident that this combination will take the Brent & Sam's business to new heights," Brent Bumpers, CEO of Brent and Sam's, said in a news release.