Hawkins, Inc. Expands Water Treatment Footprint with Acquisition of Intercoastal Trading, Inc. in Maryland

ROSEVILLE, Minn, June 03, 2024 (GLOBE NEWSWIRE) — Hawkins, Inc. (Nasdaq: HWKN), a leading specialty chemical and ingredients company, has completed the acquisition of the assets of Intercoastal Trading, Inc. and its affiliated companies. Intercoastal Trading distributes water treatment chemicals and equipment for its customers in Maryland, Delaware, and Virginia.

“As we continue to grow our water treatment business, Intercoastal Trading will accelerate our expansion in the heavily populated East Coast with its location within 200 miles of major population centers,” said Hawkins Chief Executive Officer Patrick H. Hawkins. “Intercoastal Trading has built a strong business that is well-connected with the local community, and we intend to maintain and expand those connections.”

Mr. Hawkins continued, “We expect the acquisition of Intercostal Trading to be accretive to earnings per share this fiscal year and we expect that even after this acquisition, our first quarter balance sheet will remain strong, with an anticipated leverage ratio of approximately 1x EBITDA at quarter end. In addition, I am pleased to report that all four acquisitions we completed during fiscal 2024 are meeting or exceeding our business plans and the integrations are on track.”

“We are thrilled to be joining the Hawkins team, as this presents a tremendous opportunity for our employees to grow and thrive with Hawkins,” said Intercoastal President George Robinson. “With the support of Hawkins’ premier resources and dedication to excellence, Intercoastal’s employees can continue providing our customers with the enhanced technical expertise and efficient product delivery they have come to expect and trust. Most importantly, Hawkins shares our unwavering commitment to offering outstanding customer service, a principle we have upheld for over 30 years and look forward to continuing for 30 more.”

Mr. Hawkins concluded, “On behalf of the entire Hawkins organization, I welcome the Intercoastal Trading team to the Hawkins family and look forward to the continued growth together in the future.”