Hawkins, Inc. Expands Water Treatment Footprint with Acquisition of Wofford Water Service, Inc.

Rhea-AI Summary

Hawkins (Nasdaq: HWKN), a leading specialty chemical and ingredients company, announced the acquisition of Wofford Water Service, a distributor of water treatment chemicals and equipment based in Mississippi. This acquisition aligns with Hawkins' strategic plan to grow its water treatment business and expand its customer base in the southern U.S. Hawkins CEO, Patrick H. Hawkins, emphasized that the acquisition extends Hawkins' reach in Mississippi, where the company currently has business. He also highlighted the strong community connections Wofford Water Service has established, which Hawkins intends to maintain as part of its growth strategy.

Positive

• Acquisition of Wofford Water Service expands Hawkins' customer base in Mississippi.
• Enhances Hawkins' strategic growth in the southern U.S. market.
• Hawkins aims to maintain strong community connections established by Wofford Water Service.

Negative

• None.

News Market Reaction – HWKN

-3.64%

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-3.64% News Effect

On the day this news was published, HWKN declined 3.64%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

ROSEVILLE, Minn., July 01, 2024 (GLOBE NEWSWIRE) -- Hawkins, Inc. (Nasdaq: HWKN), a leading specialty chemical and ingredients company, has completed the acquisition of Wofford Water Service, Inc. (“Wofford Water Service”). Wofford Water Service distributes water treatment chemicals and equipment for its customers mainly in Mississippi.

“The acquisition of Wofford Water Service helps build out our southern U.S. Expansion, by giving us a larger customer base in Mississippi, where we do limited business today in Water Treatment. This tuck-in acquisition continues to demonstrate our ability to execute on our strategy to grow our water treatment business and accelerate our growth in the south,” said Hawkins Chief Executive Officer, Patrick H. Hawkins.

Mr. Hawkins continued, “Wofford Water Service has built a strong business that is well-connected with the local community, and we intend to maintain those connections. I would like to welcome the Wofford Water Service team to the Hawkins organization and look forward to our continued growth together.”

About Hawkins, Inc.

Hawkins, Inc. was founded in 1938 and is a leading specialty chemical and ingredients company that formulates, distributes, blends, and manufactures products for its Industrial, Water Treatment, and Health & Nutrition customers. Headquartered in Roseville, Minnesota, the Company has 60 facilities in 27 states and creates value for its customers through superb customer service and support, quality products and personalized applications. Hawkins, Inc. generated $919 million of revenue in fiscal 2024 and has approximately 950 employees. For more information, including registering to receive email alerts, please visit www.hawkinsinc.com/investors.

FAQ

What company did Hawkins (HWKN) recently acquire?

Hawkins (HWKN) recently acquired Wofford Water Service.

What is the strategic purpose of Hawkins' acquisition of Wofford Water Service?

The acquisition aims to expand Hawkins' water treatment business and accelerate growth in the southern U.S.

Where is Wofford Water Service located?

Wofford Water Service is located in Mississippi.

How does the acquisition of Wofford Water Service benefit Hawkins (HWKN)?

It expands Hawkins' customer base in Mississippi and strengthens its position in the southern U.S. water treatment market.

Who is the CEO of Hawkins, and what did he say about the acquisition?

Hawkins' CEO, Patrick H. Hawkins, stated that the acquisition will help grow the company's water treatment business and build strong community connections.