Cannae Holdings, Inc. Sells its Ownership Interest in The Watkins Company to KDSA Investment Partners

Cannae Holdings, Inc. Sells its Ownership Interest in The Watkins Company to KDSA Investment Partners

~ Sale Represents Another Step in Cannae’s Portfolio Transformation and Capital Redeployment Strategy ~

Cannae Holdings, Inc. (NYSE: CNNE) ("Cannae" or the "Company") today announces the sale of its ownership stake in The Watkins Company ("Watkins"), a leading flavoring company focused on extracts, spices and seasonings, to KDSA Investment Partners (“KDSA”).

Cannae invested $80 million in Watkins in October 2024 and including transaction sale proceeds, preferred dividends and fees received during Cannae’s ownership, the transaction represents a multiple on invested capital of approximately 1.2x in less than two years, at an IRR of nearly 10%.

Douglas K. Ammerman, Chairman of Cannae Holdings, commented, "The sale of our investment in Watkins is another step in executing the portfolio transformation strategy laid out by our Board. The transaction monetizes a non-core asset and provides Cannae with additional capital for either future investment opportunities or capital returns to our shareholders."