Hawkins Splashes Into New Territory With Industrial Research Acquisition: Details
Portfolio Pulse from Shivani Kumaresan
Hawkins Inc (NASDAQ:HWKN) has acquired Industrial Research Corporation, a distributor of water treatment chemicals and equipment in Louisiana, Texas, and Arkansas. The acquisition aims to fill a geographical gap and accelerate growth in the water treatment business. Financial details were not disclosed. As of December 31, 2023, Hawkins had $5.7 million in cash and equivalents. HWKN shares rose 3.07% to $71.57.
March 11, 2024 | 3:58 pm
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Hawkins Inc acquires Industrial Research Corporation to expand its water treatment business in Louisiana, Texas, and Arkansas. Shares increased by 3.07%.
The acquisition of Industrial Research Corporation by Hawkins Inc is a strategic move to expand its geographical footprint in the water treatment sector, which is likely to foster growth and investor confidence, as reflected in the 3.07% increase in HWKN shares. The positive market reaction suggests a short-term bullish outlook for HWKN.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100