Market News

Old Dutch to Buy Humpty Dumpty

Old Dutch Foods Ltd. has agreed to purchase Kitchener, Ont.-based Humpty Dumpty Snack Foods Inc. for $26.7 million in cash. The move would help Winnipeg-based Old Dutch better compete against snack food giant Frito-Lay Canada. Under the terms of the deal, the brand Humpty Dumpty will remain, but the company would become a subsidiary of HD Snax Ltd. — a subsidiary of Old Dutch. A deal struck by the two companies last year was dropped when a group of shareholders, objecting to the terms of the bid, threatened legal action. Old Dutch said it was too early to determine if the new deal would result in job losses. Source: Canadian Grocer E-Newsletter, March 26th. 2006.