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To increase its presence in the organic food sector, Lance Inc. has purchased a non-controlling minority equity interest in Late July Snacks LLC, a privately held organic snack food company.
"Entry into the organic food sector with our investment in Late July is consistent with our strategy to increase our presence in the better-for-you products category, and will allow us to capitalize on growing consumer trends in the organic food space," said Dave Singer, president and CEO of Lance Inc.
"We are excited about our investment in Late July and look forward to pursuing opportunities to leverage our collective strengths to drive profitable growth in both of our businesses."
Founded in 2003 by the father-daughter team of Nicole Bernard Dawes and Steve Bernard, Late July Snacks is a family-owned and -operated business producing organic updates on classic snacks. Headquartered in Hyannis, Mass., Late July's products are certified USDA Organic and available throughout North America.
Lance Inc., headquartered in Charlotte, N.C., manufactures and markets snack foods throughout much of the United States and other parts of North America