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Hostess Brands To Buy Voortman Cookies In $320M Deal

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.

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