J&J Snack Foods will acquire Dippin’ Dots, LLC for a reported $222 million. If successful, the Pennsauken-based snack foods company will greatly increase their presence among entertainment venues such as stadiums, movie theaters, amusement locations, zoos, and grocery stores.
Assets at stake are Dippin’ Dots’ main production facility, their warehouses, distribution centers, and administrative buildings in Paducah, Kentucky. An additional four warehouses are leased in California, Canada, Australia and China.
“With this acquisition, we can further leverage our combined strength in entertainment and amusement locations, theaters, convenience, and supermarkets to realize added scale, operational and go-to-market synergies and create new selling opportunities among an expanded customer base. We are confident this transaction further positions us for accelerated growth across our business.”, said J&J Snack Foods CEO and president, Dan Fachner in a statement.
The purchase will happen through a combination of cash and senior debt financing and is expected to be final by late June.