PE-backed Shearer's Foods agrees to buy Lance Private Brands

Shearer's Foods Inc, a portfolio company of U.S. private equity firm Wind Point Partners and Ontario Teachers' Pension Plan, has agreed to acquire Lance Private Brands from Snyder's-Lance Inc (NASDAQ: LNCE). No financial terms were disclosed although some news outlets report the amount of the purchase to be US$430 million. Lance Private Brands is a maker of cookies, crackers and wafers. Update: Based in Massillon, Ohio, Shearer's is a contract manufacturer and private label supplier in the snack industry. It was bought by Wind Point and Ontario Teachers in 2012.

DealsCanadaNorth AmericaBriefs