Snyder’s-Lance doubles new product revenue
Snyder's-Lance, a leading manufacturer and distributor of premium snacks, recently marked the first anniversary of its state-of-the-art Research and Development Center.
The center, located near one of the company's largest bakeries in Hanover, Pennsylvania, has been instrumental in the research and development of new product introductions that are both innovative and in line with consumer trends, according to the company.
Snyder's-Lance reported that revenue from new products in 2014 has been double that of new products in 2013 — a new high for the company — demonstrating the critical importance of research and development and an innovation pipeline. The new items spanned across the company's core brand portfolio, including Snyder's of Hanover, Lance, Cape Cod and Snack Factory.
"The opening of the Research and Development Center last summer was part of our company's transformation, and now our effort is proving itself in the market," said Rod Troni, CMO for Snyder's-Lance. "Snyder's-Lance is focused on aggressively creating innovative and better-for-you snacking options for our customers, executing new product launches that surprise them, and being nimble enough to remain at the center of trends that evolve with their eating habits."
By using detailed product and quality comparisons, sensory evaluation and lab tests at the Research and Development Center, Snyder's-Lance employs a consumer-centric approach to develop products that are in sync with consumer trends. The top new items for Snyder's-Lance this year come from each of the company's core product lines, including:
- Lance Bolds sandwich crackers, in Buffalo Wing Blue Cheese, Pizza and Bacon Cheddar flavors.
- Snyder's of Hanover Sweet and Salty Pretzel Pieces, in Cinnamon Sugar or Salted Caramel flavors
- Cape Cod popcorn, in White Cheddar, Kettle Corn and Sea Salt flavors.
- Snack Factory Pretzel Crisps Minis
"The first year of using the Research and Development Center paid dividends for Snyder's-Lance, and after acquiring the capabilities of Baptista's Bakery, the company has even more tools in its arsenal to innovate," said Troni. "Expect big announcements and new products in the coming year that will drive future growth for our company."