It's An $222M Ice Cream Treat For ICEE Parent J&J Snack Foods - Read More

  • J&J Snack Foods Corp JJSF has agreed to acquire Dippin' Dots L.L.C, a producer of flash-frozen beaded ice cream treats, for $222 million.
  • JJSF noted Dippin' Dots brand complements its frozen novelty and frozen beverage businesses. JJSF's brands include ICEE, SuperPretzel, Luigis, and others.
  • JJSF expects to further leverage its combined strength in entertainment and amusement locations, theaters, convenience, and supermarkets.
  • Dippin' Dots is headquartered in Paducah, KY, along with a main production facility, warehousing, distribution, and administrative offices. It also leases four additional frozen warehouses strategically located in California, Canada, Australia, and China.
  • J&J Snack Foods expects this transaction to be $0.30 - $0.40 accretive to its EPS in the first 12 months after closing. The deal is expected to close by the end of June 2022.
  • JJSF plans to fund the transaction through a combination of cash and senior debt financing. It held $225.5 million in cash and equivalents as of March 26, 2022.
  • Price Action: JJSF shares are trading higher by 2.93% at $122.34 on the last check Thursday.
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