The move brings together Snyder’s, a global leader in pretzels and a U.S. leader in specialty snacks that traces its roots to 1909, with Lance, a Charlotte-based snack food leader in sandwich crackers, potato chips, and cookies founded in 1913.

"This transaction allows us to create a stronger company in a highly competitive industry and simultaneously create value for our shareholders. Snyder’s-Lance will have a broad array of leading snack food products supported by a strong national DSD system," said David V. Singer, President and Chief Executive Officer of Lance.

"This historic transaction combines 200 years of excellence in salty snacks and baking and will create a dynamic and competitive organization able to deliver long-term value to shareholders and a superior customer service experience, while continuing to be an important contributor to the communities in which we operate," said Michael A. Warehime, Chairman of Snyder’s.