Hostess Brands: Up on $320 million deal to buy Canadian snacks company

Hostess Brands

02/12/2019 18:52

** Shares of Hostess Brands  TWNK.O  rise 2.23% to $13.75
after the Twinkies maker agrees to buy Canada-based wafers and
cookie company Voortman
    ** TWNK to buy Voortman from PE firm Swander Pace Capital
for about $320 million 
    ** Acquisition would extend TWNK's portfolio into growing
cookie and better-for-you sweet snacking categories - Hostess
CEO Andy Callahan says  urn:newsml:reuters.com:*:nBw5HJwgka
    ** Hostess expects the deal to be mid-single digit accretive
to its earnings in 2020 excluding investments in integration and
double-digit accretive thereafter
    ** Including session's gains, TWNK up 25.69% this year

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@ThomsonReuters.com))