Hostess Buys Voortman
Hostess buys Voortman.
Hostess Brands buys Voortman Bakery from Swander Pace Capital for $320 million.
Voortman is the number one maker of crème wafers and sugar-free cookies. Founded in 1951 by brothers William and Harry Voortman, they sell cookies at retail locations across Canada, the United States, Puerto Rico, and 70 other countries. This mixture of Hostess’ current portfolio of treats with Voortman Bakery, besides the usual financial and strategic benefits, makes for a fashionably diverse company.
Andy Callahan of Hostess said ‘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 a meaningful runway for future growth. We believe the acquisition of Voortman will create significant value for all our stakeholders. We expect 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.’
Douglas MacFarlane of Voortman said: ‘The team at Voortman is excited about becoming part of the Hostess portfolio and the prospects for the further dramatic growth of the Voortman brand behind the exceptional capabilities of the Hostess organization.’
Citigroup and Credit Suisse served as financial advisors to Hostess. Davies Ward Phillips & Vineberg, and Morgan, Lewis & Bockius served as legal advisors.
Houlihan Lokey served as financial advisor to Swander Pace and Voortman. Stikeman Elliott served as legal advisor.
Hostess Brands buys Voortman Bakery from Swander Pace Capital for $320 million.
Voortman is the number one maker of crème wafers and sugar-free cookies. Founded in 1951 by brothers William and Harry Voortman, they sell cookies at retail locations across Canada, the United States, Puerto Rico, and 70 other countries. This mixture of Hostess’ current portfolio of treats with Voortman Bakery, besides the usual financial and strategic benefits, makes for a fashionably diverse company.
Andy Callahan of Hostess said ‘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 a meaningful runway for future growth. We believe the acquisition of Voortman will create significant value for all our stakeholders. We expect 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.’
Douglas MacFarlane of Voortman said: ‘The team at Voortman is excited about becoming part of the Hostess portfolio and the prospects for the further dramatic growth of the Voortman brand behind the exceptional capabilities of the Hostess organization.’
Citigroup and Credit Suisse served as financial advisors to Hostess. Davies Ward Phillips & Vineberg, and Morgan, Lewis & Bockius served as legal advisors.
Houlihan Lokey served as financial advisor to Swander Pace and Voortman. Stikeman Elliott served as legal advisor.
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