Brief: Hostess Brands Enters Into Agreement To Acquire Voortman For About $320 Mln In Cash

Hostess Brands

02/12/2019 11:04

Dec 2 (Reuters) - Hostess Brands Inc  TWNK.O :
    * HOSTESS BRANDS, INC. ENTERS INTO AGREEMENT TO ACQUIRE
VOORTMAN,
A LEADING NORTH AMERICAN WAFER AND COOKIE COMPANY
    * HOSTESS BRANDS INC - DEAL FOR APPROXIMATELY $320 MILLION
(C$425
MILLION) IN CASH
    * HOSTESS BRANDS INC - TRANSACTION HAS BEEN UNANIMOUSLY
APPROVED
BY HOSTESS BOARD OF DIRECTORS
    * HOSTESS BRANDS INC - TRANSACTION EXPECTS TO GENERATE AT
LEAST
$15 MILLION OF ANNUAL RUN-RATE SYNERGIES AND DOUBLE-DIGIT EPS
ACCRETION BY 2021
    * HOSTESS BRANDS INC - WILL ACQUIRE VOORTMAN, A MANUFACTURER
OF
BRANDED WAFERS AS WELL AS SUGAR-FREE AND SPECIALTY COOKIES, FROM
SWANDER PACE CAPITAL
    * HOSTESS BRANDS INC - UNDER TERMS OF TRANSACTION AGREEMENT,
VOORTMAN WILL BECOME A WHOLLY OWNED SUBSIDIARY OF HOSTESS
    * HOSTESS BRANDS - INTENDS TO FINANCE TRANSACTION BY USING
CASH ON
ITS BALANCE SHEET, ALONG WITH SECURED FINANCING COMMITMENTS FROM
CREDIT SUISSE, CITI

Source text for Eikon:  ID:nBw5HJwgka 
Further company coverage:  TWNK.O 

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