News & Knowledge
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. Specific terms of the transaction have not been disclosed, and Snyder’s-Lance expects the transaction to close by the end of 2016.
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.
Detailed information on the transaction can be found here.
About Troutman Sanders:
Troutman Sanders LLP is an international law firm with more than 650 lawyers in 16 offices located throughout North America and Asia. Founded in 1897, the firm’s lawyers provide counsel and advice in practically every aspect of civil and commercial law related to the firm’s core practice areas: Corporate, Energy and Industry Regulation, Finance, Litigation and Real Estate. Firm clients range from multinational corporations to individual entrepreneurs, federal and state agencies to foreign governments, and non-profit organizations to businesses representing virtually every sector and industry. See troutmansanders.com for more information.