Hostess has weathered a rocky path during its 104 years in business, experiencing two bankruptcies before nearing this multibillion-dollar sale. Smucker’s Chief Executive Mark Smucker attributed “key growth platforms of coffee, snacking and pet” to its year-over-year growth. JM Smucker announced on Monday that it will acquire Hostess Brands in a $5.6 billion stock and cash transaction set to close by April 2024. The company, which recently reported earnings for the first quarter of its 2024 fiscal year ended July 31, saw net sales increase 21% year over year, to $67.8 million. Smucker’s said buying up Hostess and its sweet treats will “enhance the company’s net sales growth, operating margins and earnings growth.” The merger is set to close by April 2024. Smucker is also acquiring the health-conscious Voortman Cookie brand, which Hostess bought in January 2020 when it expanded its sugar-free treat offerings.Ībout 3,000 Hostess employees will join Smucker as part of the cash-and-stock transaction, Smucker said in a Monday press release. Smucker will acquire baked treats including Twinkies, Devil Dogs and Hostess Cupcakes, according to terms of the deal. JM Smucker - the 126-year-old maker of fruit spreads, Jif peanut butter and Folgers coffee - announced on Monday that it will acquire Twinkie maker Hostess Brands in a $5.6 billion deal. Recall of Hostess hamburger, hot dog buns threatens Labor Day cookoutsĪdam Sandler’s hilarious response to being turned away from IHOP Twinkies maker Hostess fined $300K after worker loses fingertip Nicki Minaj to host 2023 VMAs in comeback bid amid ongoing career drama
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