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4-Traders Homepage  >  Equities  >  Nasdaq  >  Snyder's-Lance Inc    LNCE

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Snyder Lance : Plans $7.8 Million Expansion of Baptista's Bakery in Franklin

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07/19/2017 | 02:22pm CEST

MADISON, Wis., July 18 -- The Wisconsin Economic Development Corp. issued the following news release:

Baptista's Bakery LLC, a subsidiary of Snyder's-Lance Inc. and a leader in snack food innovation, is expanding its operations in Franklin to continue to meet the growing demand for its specialized products.

The company expects to create 125 jobs and invest $7.8 million in building renovations, machinery and equipment as part of the expansion currently underway at the Franklin Business Park.

The Wisconsin Economic Development Corporation (WEDC) is supporting the project by authorizing up to $300,000 in state income tax credits over the next three years. The actual amount of tax credits Baptista's will receive is contingent upon the number of jobs created during that time.

"The company has experienced tremendous growth over the last five years and has already doubled employment at its Franklin facility," said Mark R. Hogan, secretary and CEO of WEDC, the state's lead economic development corporation. "Baptista's has already invested more than $100 million in its facility, and we are pleased to assist the company in the next phase of its growth."

Founded in 1999, Baptista's Bakery has historically focused on contract and private-label snack food manufacturing, and is known for its flat pretzel crackers and dippable tortilla chips. In 2014, Baptista's was acquired by Snyder's-Lance Inc., the second largest salty snack maker in the U.S. The facility continues to play a vital role in the production of innovative snacks for the company.

In addition to the 125 jobs expected to be created by Snyder's-Lance, an economic modeling study estimates the expansion could indirectly generate 122 additional jobs in the region. Those 247 new jobs could generate up to $2.5 million in state income tax revenue over a five-year period.

Workers interested in applying for open positions at the facility in Franklin, are encouraged to visit the company's careers page at snyderslance.com/careers.

Targeted News Service, source News Service

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Financials ($)
Sales 2017 2 209 M
EBIT 2017 196 M
Net income 2017 106 M
Debt 2017 1 129 M
Yield 2017 1,80%
P/E ratio 2017 34,61
P/E ratio 2018 26,56
EV / Sales 2017 2,07x
EV / Sales 2018 1,97x
Capitalization 3 439 M
Chart SNYDER'S-LANCE INC
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Snyder's-Lance Inc Technical Analysis Chart | LNCE | US8335511049 | 4-Traders
Technical analysis trends SNYDER'S-LANCE INC
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 37,5 $
Spread / Average Target 5,4%
EPS Revisions
Managers
NameTitle
Brian J. Driscoll President, Chief Executive Officer & Director
James W. Johnston Chairman
Alexander W. Pease Chief Financial Officer & Executive Vice President
Nikhil R. Sawant Chief Information Officer & Senior Vice President
John E. Denton Independent Director
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