Third Point Management Activist Presentation Deck
SNACKS
Similarly, snacks would benefit from its own more focused strategy
Leading brands across crackers,
cookies, bread, pretzels, and chips
PEPPERIDGE FARM
America's Pretzel Bakery Since 1909.
SNYDER'S
OF HANOVER
KETTLE
CHIPS
Source: Third Point LLC; Company Materials; Google Images
THIRD POINT
PEPPERIDGE FARM
Goldfish
BAKED
SNACK CRACKERS
FIND
SNACK FACTORY.
Pretzel Crisps
CAPE
COD
■
Compelling investment case
Nearly $5 billion in sales in attractive growth
category (snacking)
Near-term potential to properly integrate Snyder's-
Lance and capture deal synergies
Long-term potential to simplify complicated
go-to-market strategy
O Opportunity to improve byzantine direct store delivery
network run by hundreds of independent operators
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