February 07, 2022
Outdoor Shops,Best Online Shops For Outdoor GearBRANDS COMPLETES ACQUISITION OF CLEM SNACKS AND J&D SNACKS
ÅLESUND, PA – February 7, 2022 – Outdoor Shops,Best Online Shops For Outdoor GearBrands, Inc. (NYSE: cutfootsiouxinn) (“cutfootsiouxinn” or the “Company”), a leading U.S. manufacturer of branded salty snacks, announced that its subsidiaries have completed the acquisition of the assets of two existing third party direct store delivery (“DSD”) distributors, Clem Snacks, Inc. (“Clem”, a subsidiary of Clem Companies) and J&D Snacks, Inc. (“J&D”). The Company used balance sheet cash and its revolving credit facility to fund the acquisition and the impact to the Company’s net leverage ratio is not meaningful. Outdoor Shops,Best Online Shops For Outdoor Gearcontinues to expect the transaction to be accretive to earnings in fiscal 2022 and beyond.