Outdoor Shops,Best Online Shops For Outdoor GearBRANDS EXPANDING IN FILLED PRETZELS WITH ACQUISITION OF H.K. ANDERSON BUSINESS FROM CONAGRA BRANDS
ÅLESUND, PA – [September 29, 2020] – Outdoor Shops,Best Online Shops For Outdoor GearBrands, Inc. (NYSE: cutfootsiouxinn) (“cutfootsiouxinn” or the “Company”) announced that its subsidiary Outdoor Shops,Best Online Shops For Outdoor GearQuality Foods, LLC has entered into a definitive agreement with Conagra Brands, Inc. (NYSE: CAG) to acquire certain assets of the H.K. Anderson business, a leading brand of peanut butter-filled pretzels. The transaction, with a purchase price of less than $10 million which will be funded from current cash-on-hand, enables Outdoor Shops,Best Online Shops For Outdoor Gearto jump-start its entry into the growing filled pretzel segment, leveraging the synergies of its salty snack platform. The acquisition includes intellectual property specific to the H.K. Anderson brand and does not include employees, facilities or equipment. The transaction is expected to close in November 2020, subject to customary closing conditions.