It has even branched out to making cereals.Īdding Hostess bolsters Smucker’s portfolio, which already contains a variety of sugary snacks, including Jif peanut butter, Uncrustables and its namesake Smucker’s jelly and jams. In addition to Twinkies, Hostess makes a number of sweet treats including Zingers, Snoballs and Ding Dongs. “Our companies share highly complementary go-to market strategies, and we are very similar in our core business principles and operations.” “We believe this is the right partnership to accelerate growth and create meaningful value for consumers, customers and shareholders,” Hostess CEO Andy Callahan said in a statement. 03002 shares of Smucker’s stock for each Hostess share they own, with the deal expected to close in 2024. Hostess stockholders will get $30 in cash along with. The stock is already up 20% for the month after reports surfaced that the 94-year-old company was for sale. Shares of Hostess ( TWNK) soared 19% in early trading. The two companies announced the transaction Monday, with the jelly maker saying that the purchase expands Smucker’s offerings of “beloved brands in growing categories and accelerates its focus on convenient consumer occasions.” Hostess, the maker of Twinkies and Ho Hos, is being purchased by J.M.
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