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Dec. 2, 2019, 6:05 a.m. EST

Hostess to buy Voortman Cookies for $320 million

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By Steve Goldstein

TWNK

Twinkie maker Hostess Brands /zigman2/quotes/201416450/composite TWNK -0.62% said it's going to buy wafer-maker Voortman Cookies from Swander Pace Capital for $320 million (C$425 million) in cash. Hostess says the deal will result in cost savings of at least $15 million in 12 to 18 months. Hostess expects the transaction to provide approximately $20 million of incremental adjusted EBITDA in 2020, growing to $40 to $50 million by 2022. It says its net leverage immediately following the transaction is expected to be approximately 4.5x and be reduced to around 4.0x by the end of 2020.

/zigman2/quotes/201416450/composite
US : U.S.: Nasdaq
$ 20.98
-0.13 -0.62%
Volume: 1.48M
May 20, 2022 4:00p
P/E Ratio
22.90
Dividend Yield
N/A
Market Cap
$2.92 billion
Rev. per Employee
$464,872
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