Market Overview

Hostess Brands To Buy Voortman Cookies In $320M Deal

Share:
Hostess Brands To Buy Voortman Cookies In $320M Deal

Hostess Brands (NASDAQ: 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.

Related Links:

Schwab, TD Ameritrade Confirm $26B All-Stock Merger

Starboard Takes Stake In CVS Heath

Posted-In: Voortman CookiesM&A News Best of Benzinga

 

Related Articles (TWNK)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Cannabis Countdown: Top 10 Marijuana Industry News Stories Of The Week

Cannabis Countdown: Top 10 Marijuana Stock News Stories Of The Week