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Actionable news in DMND: Diamond Foods, Inc.,

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Filed by Snyder’s-Lance, Inc.

Pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

of the Securities Exchange Act of 1934

Subject Company: Diamond Foods, Inc.


To: All Associates

From: Carl Lee

Subject: Agreement to acquire Diamond Foods

I’m pleased to announce today that Snyder's-Lance has signed a definitive agreement to acquire Diamond Foods, Inc. an industry leader in snack foods with five category leading brands in Kettle Brand ® potato chips, KETTLE® Chips, Pop Secret ® popcorn, Emerald ® snack nuts, and Diamond of California ® culinary nuts.

Diamond Foods is an industry leading company with exceptional brands, and we're excited to bring together Diamond Foods with our talented and creative Snyder's-Lance team.

Diamond has excelled in delivering exceptional product quality for many years, with innovation across their entire product portfolio. There are many current products and new product ideas that will work perfectly alongside our existing brands. We plan to take full advantage of our established Direct Store Delivery (DSD) and direct sales network as well as the expertise Diamond brings from their sales team to drive better top line growth than either of us could achieve alone. Additionally, this acquisition provides opportunities to expand our Snyder's-Lance brands internationally with the Kettle Brand® distribution

and infrastructure located in the UK and Western Europe. By combining the resources and expertise of Snyder's-Lance and Diamond Foods, we expect to see improved profit margins.

Each Diamond brand brings unique capabilities that will strengthen Snyder’s-Lance’s strategic plans while increasing our annual top line revenue to around $2.6 billion. The transaction will expand our business in the better-for-you snack category and increase our natural food channel presence.

Given the size of this acquisition, the next steps will be for the Federal Trade Commission (FTC) to conduct an expected and customary review. The transaction also requires shareholder approval by both companies. This will take some months to complete. During this time and until the acquisition is complete, Snyder's-Lance and Diamond Foods must operate completely independently with no planning or other collaborative communication. In other words, during this review it should be “business as usual”. This point is very important and we expect every Snyder's-Lance associate will honor it. Once completed, we will begin to work on the details of planning integration for the two companies.

These are very exciting times to be at Snyder's-Lance, as we continue on our journey to excel by proving that “Snacking Is Our Passion”! Let’s look forward to welcoming the Diamond team to the Snyder's-Lance family and winning together.

Thanks for all you do,

Carl Lee


What does today’s announcement mean?

Why does Snyder's-Lance want to purchase Diamond Foods?

What happens next?

When is the acquisition expected to be completed?

When will the integration process start? How do we plan to integrate the two companies?

What can I expect during the integration process?

Can we talk about this outside the company?

What does this transaction mean for customers/partners?

When will customers be notified?

Can we trade our company stock?

What is the difference between the “Kettle Brand®” and “Kettle® Chips” logos? Are they two different product lines?

Cautionary Information about Forward Looking Statements

This communication contains statements which may be forward looking within the meaning of...