Business Acquisitions

3 Months Ended

Mar. 30, 2013

Business Combinations [Abstract]

Business Acquisitions

BUSINESS ACQUISITIONS

2012 Acquisition

On October 11, 2012, we completed the acquisition of all of the issued and outstanding shares and membership interests of Snack Factory, LLC and certain affiliates ("Snack Factory"), for $343.4 million.

The following unaudited pro forma results for the quarter ended March 31, 2012, include estimates and assumptions regarding increased amortization of intangible assets related to the acquisition, increased interest expense related to debt acquired in order to fund the acquisition and the related tax effects. Pro forma results are not necessarily indicative of the results that would have occurred if the acquisition had occurred on the date indicated, or that may result in the future for various reasons including the potential impact of revenue and cost synergies on the business.

(in thousands, except per share data)	Quarter Ended March 31, 2012
Net revenue	$	413,988
Income before interest and income taxes	26,849
Net income attributable to Snyder's-Lance, Inc.	13,962
Weighted average diluted shares	69,053
Diluted earnings per share	$	0.20

Merger and Integration Activities

On December 6, 2010, Lance, Inc. and Snyder’s of Hanover, Inc. completed a merger (“Merger”) to create Snyder’s-Lance, Inc.

In connection with this Merger, we converted our company owned distribution routes to an independent business owner ("IBO") distribution structure.

During the quarter ended March 31, 2012, we incurred $1.5 million in severance costs and professional fees related to the Merger and integration activities, which are included in selling, general and administrative expenses on the Condensed Consolidated Statements of Income. There were no such costs incurred during the quarter ended March 30, 2013.