J&J Snack Foods Corp. has entered into an agreement to acquire Dippin’ Dots, LLC for USD222m, subject to customary purchase price adjustments. The transaction is expected to close by the end of June.
Dippin’ Dots uses a cryogenic freezing process to produce beaded ice cream, yogurt, sherbet and flavored ice products distributed in thousands of franchise locations, theme parks, stadiums, arenas, zoos, movie theaters and events.
“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, president and chief executive officer of J&J Snack Foods. “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.”
Throughout its history, J&J Snack Foods has completed more than 30 acquisitions and has a long-term track record of integrating and scaling brands, including Icee, SuperPretzel, Luigis and others, Mr. Fachner said.