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J&J Snack Foods - >>> It's An $222M Ice Cream Treat For ICEE Parent J&J Snack Foods


Benzinga

by Shivani Kumaresan

May 19, 2022


https://finance.yahoo.com/news/222m-ice-cream-treat-icee-184119364.html


J&J Snack Foods Corp (NASDAQ: JJSF) has agreed to acquire Dippin' Dots L.L.C, a producer of flash-frozen beaded ice cream treats, for $222 million.

JJSF noted Dippin' Dots brand complements its frozen novelty and frozen beverage businesses. JJSF's brands include ICEE, SuperPretzel, Luigis, and others.

JJSF expects to further leverage its combined strength in entertainment and amusement locations, theaters, convenience, and supermarkets.

Dippin' Dots is headquartered in Paducah, KY, along with a main production facility, warehousing, distribution, and administrative offices. It also leases four additional frozen warehouses strategically located in California, Canada, Australia, and China.

J&J Snack Foods expects this transaction to be $0.30 - $0.40 accretive to its EPS in the first 12 months after closing. The deal is expected to close by the end of June 2022.

JJSF plans to fund the transaction through a combination of cash and senior debt financing. It held $225.5 million in cash and equivalents as of March 26, 2022.

Price Action: JJSF shares are trading higher by 2.93% at $122.34 on the last check Thursday.

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