HD Snax, a wholly-owned subsidiary of Old Dutch Foods, has completed the CDN$26.7m all-cash takeover of Humpty Dumpty Snack Foods, creating a national potato chip company with operations in Eastern and Western Canada.
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More than 9.2m shares, 98% of outstanding common stock, were tendered before the bid expired on Monday (15 May). The company intends to take control of the remaining shares by way of compulsory sale under the Business Corporations Act.
Humpty Dumpty, which will become a private subsidiary of HD Snax, will apply to have its shares delisted from the Toronto Stock Exchange.
