Charlotte, NC — Snyder’s-Lance, Inc. reports net revenue for the first quarter of 2014 was $437 million, an 4.4 percent increase compared with the same period in 2013.
“Snyder’s-Lance is off to a good start in 2014. We continued developing our core brands with stepped up investments to support the first quarter new products rollout by significantly increasing our spend this past year,” comments Carl E. Lee, Jr, president and CEO.
According to the company, the driving force behind the revenue growth was the introduction of new products such as Snyder’s of Hanover brand Sweet and Salty pretzel pieces, Korn Krunchers and Lance Bolds sandwich crackers. Expanded distribution of its Cape Cod chip line pushed sales even farther.
Lee says acquisition of Baptista’s Bakery and the sale of its private brands operations to Shearer’s Foods are important, strategic steps that allow the company to focus on branded products and on-trend product innovation.