Hawkins Announces Agreement To Acquire Dumont Company

MINNEAPOLIS, Sept. 29, 2014 /PRNewswire/ -- Hawkins, Inc. (Nasdaq: HWKN) today announced that it has entered into a definitive agreement to acquire substantially all the assets of The Dumont Company, Inc., a water treatment chemical distribution company with seven facilities across the State of Florida. 

"We are very pleased to announce this strategic acquisition for our Water Treatment Group and welcome Dumont into the Hawkins organization," said Hawkins Chief Executive Officer, Patrick H. Hawkins. "Dumont shares our core values, and, like us, is particularly focused on offering the highest level of service and value to its customers.  This acquisition significantly expands our Water Treatment Group's geographic footprint to now cover the state of Florida and is part of our continued efforts to grow our Water Treatment Group's business.  We are delighted to be able to work with Dumont's outstanding employees to grow the business as we bring Hawkins' broader product offering to Dumont's current customers." 

Ron Cartwright, President of Dumont, added, "My wife, Julie, and I have operated this family business for over 20 years and we are very pleased to be able to join the Hawkins team.  We think this combination is a great cultural fit and will provide tremendous opportunities for our customers and employees."                                                                                                

Dumont had revenues of approximately $14 million in 2013.  The acquired assets will become part of the company's Water Treatment segment.

The transaction is subject to customary closing conditions and is expected to close in the coming weeks.                                                             

About Hawkins
Hawkins, Inc. distributes, blends, dilutes and manufactures bulk and specialty chemicals for its customers in a wide variety of industries. Headquartered in Roseville, Minnesota, and with 29 facilities in 14 states, the Company creates value for its customers through superb customer service and support, quality products and personalized applications.

About Dumont
The Dumont Company, Inc. has been serving the chemical needs of Florida customers since 1955. From its roots in Southwest Florida, the company now serves all of the state from its facilities in Starke, Labelle, Tarrytown, Hollywood, Big Pine Key, Monticello and Apopka, Florida.  Its primary chemical markets include municipal water and wastewater treatment, private utilities, commercial swimming pools, irrigation water treatment and food processing.

Cautionary statement regarding forward-looking statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements include statements regarding benefits of the proposed transaction, future performance, and the completion of the transaction.  These statements are based on the current expectations of management of Hawkins, involve certain risks, uncertainties, and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate.  Therefore, actual outcomes and results may differ materially from what is expressed herein.  There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this document.  For example, among other things, conditions to the closing of the transaction may not be satisfied and the transaction may involve unexpected costs, liabilities, or delays, any of which could cause the transaction to not be consummated.  The actual financial impact of the transaction may be negatively affected by changes in revenues or costs.  Additional factors that may affect the future results of Hawkins are set forth in its filings with the Securities and Exchange Commission, which are available at www.sec.gov.  All forward-looking statements in this release are qualified by these cautionary statements and are made only as of the date of this release.  Hawkins is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

SOURCE Hawkins, Inc.