Hostess Brands TWNK will acquire Voortman Cookies, a manufacturer of branded wafers and sugar-free specialty cookies, from Swander Pace Capital for approximately $320 million in cash. The transaction is expected to close in early January.
The company plans to finance the $320 million transaction by using cash on its balance sheet, along with secured financing commitments from Credit Suisse and Citi.
Under the terms of the transaction agreement, Voortman will become a wholly owned subsidiary of Hostess.
Hostess Brands shares last closed at $13.45. The stock has a 52-week high of $14.86 and a 52-week low of $10.29.
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