MINNEAPOLIS, - Hawkins, Inc. (Nasdaq: HWKN) today announced that it has closed on a transaction whereby it sold the inventory and entered into a marketing relationship relating to its retail Pharmaceutical Segment, which provides pharmaceutical chemicals to retail pharmacies and small-scale pharmaceutical manufacturers. The Company will continue to sell its bulk chemicals to the pharmaceutical industry through the operations of its Industrial group. For the nine months ended December 31, 2008, the retail Pharmaceutical segment accounted for 2.8% of the Company's sales and reported a $28,000 loss from operations. As a result of the transactions, the Company expects to report the results of the retail Pharmaceutical Segment as discontinued operations in its fiscal 2009 results.
Hawkins, Inc. distributes, blends and manufactures bulk and specialty chemicals for its customers in a wide variety of industries. Headquartered in Minneapolis, Minnesota, and with 20 facilities in 11 states, the Company creates value for its customers through superb customer service and support, quality products, and personalized applications.
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