Hostess Brands, Inc. Enters into Agreement to Acquire Voortman, a Leading North American Wafer and Cookie Company
Hostess Brands, Inc. - Class A (TWNK)
Last hostess brands, inc. - class a earnings: 2/26 04:05 pm
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Source: Business Wire
Provides Entry into Attractive, Adjacent Wafer and Sugar-Free Cookie Categories with Better-For-You Product Characteristics Leverages Hostess’ Proven Business Model with Opportunity to Expand Voortman’s Complementary and Market Leading Brands Strategic Transaction Expects to Generate at least $15 million of Annual Run-rate Synergies and Double-Digit EPS Accretion by 2021Management Will Host Conference Call Today at 8:30 a.m. ET KANSAS CITY, Mo.--(BUSINESS WIRE)--Hostess Brands, Inc. (NASDAQ: TWNK, TWNKW) (“Hostess” or the “Company”), and Voortman Cookies Limited (“Voortman”) today announced that they have executed an agreement under which Hostess will acquire Voortman, a leading and rapidly growing manufacturer of premium, branded wafers as well as sugar-free and specialty cookies, from Swander Pace Capital for approximately $320 million (C$425 million) in cash, including a customary working capital adjustment, representing a post-synergy 9.1x1 EBITDA transaction multiple. The tran
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