LNCE to Close Facility in Canada - Analyst Blog
04 Marzo 2013 - 11:40AM
Zacks
Snyder's-Lance, Inc. (LNCE) recently announced
plans to close a manufacturing facility in Canada in order to save
costs.
Effective beginning May this year, Snyder's-Lance will shut down
its bakery facility in Cambridge, Ontario and consolidate its
production with other manufacturing facilities. The decision to
close down the facility came on the back of Snyder's-Lance
comprehensive review of its manufacturing facilitates. The
company’s other manufacturing facilities are located in N.C., Pa.,
Iowa, Ind., Ga., Ariz., Mass., Fla. and Ohio.
Snyder's-Lance is engaged in the manufacture, marketing and
distribution of a variety of branded and private label snack foods
and bakery products. Its products include sandwich crackers,
pretzel crackers, potato chips, cookies, tortilla chips, restaurant
style crackers, nuts and other snacks.
Snyder's-Lance owns 4 core brands; Snyder's of Hanover pretzels,
Lance sandwich crackers, Cape Cod potato chips and Pretzel Crisps
cracker. Pretzel Chips was acquired in October last year as part of
Snyder's-Lance’s acquisition of the Princeton, N.J.-based company,
Snack Factory from VMG Partners for $340 million in cash terms.
Pretzel Crisps is the world’s first pretzel-shaped low calorie
cracker.
Early last month, Snyder's-Lance reported a mixed fourth quarter
and full year 2012 results. Earnings beat while revenue missed the
Zacks Consensus Estimate. Earnings increased 45% and revenue grew
1.9% year over year.
Other Stocks to Consider
Snyder's-Lance carries a Zacks Rank #3 (Hold). Some other food
stocks worth considering include ConAgra Foods.
Inc. (CAG), J&J Snack Foods Corp.
(JJSF) and Flowers Foods, Inc. (FLO). All these
stocks carry a Zacks Rank #1 (Strong Buy).
CONAGRA FOODS (CAG): Free Stock Analysis Report
FLOWERS FOODS (FLO): Free Stock Analysis Report
J&J SNACK FOODS (JJSF): Free Stock Analysis Report
SNYDERS-LANCE (LNCE): Free Stock Analysis Report
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