Deal will treble Irish group’s US sales and gives it bite of food services market

OF the $561 million IAWS is paying to acquire Otis Spunkmeyer, close to $196m is in acquired debt.

To complete the deal IAWS is paying $340m initially to be followed by a further $25m, provided certain targets are met by management, who are staying with the group.

This deal trebles the Irish group’s sales in the US and gives it critical distribution in food services area.