This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hawkins, Inc. Announces Agreement To Acquire The Assets Of Vertex Chemical Corporation

MINNEAPOLIS, Jan. 10, 2011 /PRNewswire/ -- Hawkins, Inc. (Nasdaq: HWKN) today announced that it has entered into a definitive agreement to acquire substantially all the assets of Vertex Chemical Corporation and its affiliates.

Hawkins Chief Executive Officer, John R. Hawkins, commented, "We are extremely pleased to be welcoming a company the caliber of Vertex into the Hawkins organization.  Vertex shares our value of placing the customer first and has built a high-quality manufacturing and distribution business focused on manufacture and packaging of sodium hypochlorite bleaches in strategically located facilities. We believe this transaction will offer significant benefits to our shareholders as we intend to build on Vertex's capabilities, plant sites and employees to broaden the products and services offered to Vertex's current customer base.  In addition, this acquisition provides us with an expanded geographic footprint and additional infrastructure to support our strategy of geographic growth for our Water Treatment Group."

Michael H. Moisio, Chairman of Vertex added, "My wife, Lee, and I have operated this family business for the last 32 years and we are very pleased with the opportunity for the Vertex business to increase its growth within the Hawkins organization.  We have known and respected Hawkins and its management team for many years.  Hawkins has a similar culture to that of Vertex, placing high value on quality and complete customer satisfaction.  Both companies are committed to a seamless transition for our customers, suppliers and employees."

Vertex Chemical Corporation and its affiliates had revenues of approximately $39 million in 2010.  The acquisition is expected to be accretive to Hawkins's earnings; however Vertex's margins have historically been somewhat lower than those of Hawkins.

The transaction is subject to customary closing conditions and is expected to close in January.  

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 1,995.83 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs