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Lance, Inc.
Lance, Inc. Announces Successful Bid to Purchase Assets of Archway Cookies LLC
December 21st, 2008
Lance, Inc. (NASDAQ:LNCE) announced that the U.S. Bankruptcy Court for the District of Delaware has approved Lance's bid to purchase substantially all of the assets of snack food company Archway Cookies LLC ("Archway"). Under the terms of the Asset Purchase Agreement, Lance will acquire substantially all of the assets of Archway for approximately $30 million. The transaction is expected to close no later than December 15, 2008. Lance will use available liquidity under its current credit facilities to fund the acquisition. "We're excited about this acquisition," commented David V. Singer, President and Chief Executive Officer of Lance, Inc. "Archway was founded in the...
Source: Pharma Investments, Ventures & Law Weekly (2008-12-21)
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