Hostess Brands enters sweet deal to acquire Voortman Cookies
by CM Staff
The deal represents entry into attractive, adjacent wafer and sugar-free cookie categories with better-for-you product characteristics
PHOTO: Voortman cookies/theimpulsivebuy via Flickr
Kansas City, Mo. – Packaged food manufacturer Hostess Brands, Inc. will acquire Voortman from private equity firm Swander Pace Capital.
Voortman, a Canadian manufacturer of premium, branded wafers as well as sugar-free and specialty cookies, is being acquired for approx. $425 million in cash, including a customary working capital adjustment, representing a post-synergy 9.1x EBITDA transaction multiple.
The transaction has been unanimously approved by the Hostess board of directors.
Hostess expects to close the transaction in early January 2020, subject to customary closing conditions.
