Irish food company IAWS Group, plc, has signed an agreement to acquire baked goods manufacturer Otis Spunkmeyer Holdings, Inc.

Irish food company IAWS Group, plc, has signed an agreement to acquire baked goods manufacturer Otis Spunkmeyer Holdings, Inc, from the company's current management and private equity firm of Code Hennessy & Simmons, which had purchased the company four years ago in a leveraged buyout. The management team, including CEO John Schiavo, is expected to stay on. The acquisition is expected to complement IAWS’ existing La Brea Bakery business.