M&A - HAWKINS INC

Form Type: 8-K

Filing Date: 2025-04-30

Corporate Action: Acquisition

Type: New

Accession Number: 000004625025000021

Filing Summary: On April 25, 2025, Hawkins, Inc. entered into a second amendment with U.S. Bank as the Administrative Agent and other lenders, increasing its revolving credit facility to $400 million. The company utilized approximately $150 million from this facility to acquire substantially all assets of Surplus Management, Inc. dba WaterSurplus. The facility includes a $10 million letter of credit subfacility and a $25 million swingline subfacility and is secured by the company's personal property assets. The amendment also outlines various financial covenants and event of default conditions. Additionally, the company is allowed to make distributions and repurchase shares as long as no defaults exist.

Form Type: 10-Q

Filing Date: 2025-01-29

Corporate Action: Acquisition

Type: New

Accession Number: 000004625025000004

Filing Summary: Hawkins, Inc. reported its quarterly financial performance for the period ending December 29, 2024. During this period, the company achieved sales of $226.2 million, marking a growth compared to $208.5 million from the previous year. The net income for the quarter was $15.0 million, an increase from $14.9 million the prior year. Operating income rose to $21.1 million, bolstered by a gross profit of $48.4 million. Moreover, the document outlines significant acquisitions, including Waterguard, Inc. for $18 million, with financial allocations made towards customer relationships, goodwill, and property. Other acquisitions include Wofford Water Service, Inc. for $3.4 million and Intercoastal Trading, Inc., adding to the Water Treatment segment revenues. The company reported strong commitments towards operational efficiency and growth outlined in their financials and acquisition strategies, emphasizing their growth prospects in the water treatment industry.