J&J Snack Foods closes $222M acquisition of Dippin' Dots; largest deal in company history

J&J SNACK FOODS CORP

Purchase price of ~$222M for 100% equity of Dippin' Dots Holding, L.L.C. (including Doc Popcorn).
Amended credit agreement provides incremental $175M capacity; $125M drawn to fund acquisition.
Amendment to charter increases authorized common shares from 25M to 50M, preferred from 5M to 10M.
CEO Dan Fachner says transaction is the largest acquisition in company's 50+ year history.
Deal adds Dippin' Dots flash-frozen ice cream and Doc Popcorn to J&J's product portfolio.

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