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Shearer’s Foods—a company owned by Ontario Teachers’ Pension Plan and private equity firm Wind Point Partners—has agreed to buy a private label manufacturer of cookies, crackers and wafers from Snyder’s-Lance for US$430 million ($468.5 million).
The transaction is expected to close in the second quarter of 2014 after required regulatory approvals are received.
It will be the company’s second add-on acquisition. Last month, it acquired Medallion Foods, a manufacturer of tortilla chips, corn chips and cheese snacks.
Shearer’s is the largest supplier of private label salty snacks in North America.
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