Troutman Sanders Advises Snyder’s-Lance in Sale of Diamond of California®
Troutman Sanders advised Snyder’s-Lance, Inc. in its signing of a definitive agreement to sell its Diamond of California ® culinary nut business to Blue Road Capital.
Snyder’s-Lance acquired the Diamond of California brand earlier this year as part of its $1.9 billion merger with Diamond Foods, Inc., which also included the Pop Secret, Kettle Chips and Emerald brands. Troutman Sanders also represented Snyder’s-Lance in the Diamond Foods acquisition.
The sale is part of Snyder’s-Lance’s strategy to increase focus on its core brands and to improve capital efficiency. Carl E. Lee, Jr., President and Chief Executive Officer at Snyder’s-Lance, also commented that, “Diamond of California® is a leader in culinary nuts with a bright future, and should benefit from Blue Road Capital’s expertise, strategic assets and prior investments in the category. This is truly a beneficial transaction for both parties and will be a positive for our employees in Stockton, CA.”
The Troutman Sanders team assisting Snyder’s-Lance includes corporate lawyers Alec Watson, Shona Smith, Chris Hartsfield and Dan Howell, and employee benefits lawyers Jeff Banish, environmental lawyer Andrea Rimer, Intellectual Property lawyer Jim Schutz, real estate lawyer Stephanie Greer Fulcher, and tax lawyer Robert Friedman.
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