J&J Snack Foods Corp., a leader and innovator in the snack food industry, announced it has entered into a definitive agreement to acquire Dippin’ Dots, L.L.C., a leading producer of flash-frozen beaded ice cream treats, for $222 million, subject to customary purchase price adjustments. The transaction will be funded through a caombination of cash and senior debt financing and is expected to be accretive to J&J’s annual operating results and is anticipated to close by the end of June, subject to customary closing conditions.
“Dippin’ Dots aligns perfectly with J&J’s portfolio strategy by adding an iconic, differentiated brand that uniquely complements our frozen novelty and frozen beverage businesses,” said Dan Fachner, J&J Snack Foods president and CEO . 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.”