Hostess Brand and Voortman Cookies recently entered into an agreement that outlines Hostess’ acquisition of Voortman for approximately $320 million. The move was unanimously approved by the Hostess Board of Directors. The transaction is expected to close in early January 2020.
“Voortman is a leading brand with a well-defined consumer position that complements and extends the growing Hostess portfolio into the growing cookie and better-for-you sweet snacking categories with meaningful runway for future growth,” stated Andy Callahan, Hostess’ President and CEO. “We believe the acquisition of Voortman will create significant value for all of our stakeholders. We expected the combination of Hostess’ lean, proven operating model and Voortman’s brand and adjacent category position will result in meaningful cost savings and growth opportunities. This acquisition fits well into our long-term growth strategy, and we are confident that Voortman will be a great addition to our existing sweet baked goods snacking and breakfast portfolio.”
According to a press release, Voortman is a top player in the créme wafers and sugar-free cookies space. Founded in 1951 by brothers William and Harry Voortman, the company is headquartered in Burlington, Ontario, Canada. Its distribution footprint extends mainly in the United States and Canada. Hostess noted that Voortman’s product ingredients, flavor profiles, and better-for-you characteristics complement its sweet baked goods snacking business.
“The team at Voortman is excited about becoming part of the Hostess portfolio and the prospects for further dramatic growth of the Voortman brand behind the exceptional capabilities of the Hostess organization,” remarked Douglas MacFarlane, CEO of Voortman.
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