Benzinga | Dec 6, 2021 09:18AM EST

Hawkins To Acquire NAPCO Chemical Company Adding 3 Branches In Texas; Terms Not Disclosed

Hawkins, Inc. (NASDAQ:HWKN), a leading specialty chemical and ingredients company, has entered into a definitive agreement to acquire the assets of NAPCO Chemical Company, Inc. and its affiliates. The transaction is expected to close by the end of December 2021.

NAPCO Chemical manufactures and distributes water treatment chemicals from three locations in the cities of Spring, Lufkin, and Luling, Texas. NAPCO Chemical's products meet their customers' needs to keep water safe for consumption and the environment. "This acquisition demonstrates Hawkins' commitment to expand our footprint in the South and allows us to enter the Texas market. Upon completion of this acquisition, Hawkins will have 37 water treatment sites serving 26 states. I would like to reiterate our commitment to continue to grow our Water Treatment business and welcome the NAPCO team to the Hawkins organization and look forward to continued growth throughout the great state of Texas," said Hawkins Chief Executive Officer Patrick H. Hawkins.

Pam Manning, owner of NAPCO Chemical, said, "Over the last 35 plus years, it has been a pleasure watching NAPCO grow as a company. The combination with Hawkins is a natural fit, as both companies have similar business models and cultures. Having the support of a large and growing company like Hawkins will provide tremendous opportunities for our customers and employees, and I am excited for what the future will bring."

Manning, the current management team, and NAPCO Chemical's employees are expected to continue with the business. Hawkins expects that the acquisition will be accretive in its fiscal year 2023.