Hostess, the maker of snack classics like Twinkies and HoHos, is being sold to J.
M. Smucker in a cash-and-stock deal worth about $5.6 billion. Smucker, which makes everything from coffee to peanut butter and jelly, will pay $34.25 per share in cash and stock, and it will also pick up approximately $900 million in net debt. Smucker, which makes everything from coffee to peanut butter and jelly, will pay $34.25 per share in cash and stock, and it will also pick up approximately $900 million in net debt.
Hostess Brands Inc. shareholders will receive $30 in cash and 0.03002 shares of The J.M. Smucker Co. stock for each share of stock that they own. “We believe this is the right partnership to accelerate growth and create meaningful value for consumers, customers and shareholders. Our companies share highly complementary go-to market strategies, and we are very similar in our core business principles and operations,” Hostess President and CEO Andy Callahan said in a prepared statement Monday.
Twinkies went big when Hostess put them on shelves in 1930, and it followed up with a string of sweet concoctions like DingDongs, Zingers and Sno Balls. In an interview with The Associated Press this year, Hostess CEO XX talked about how the company managed some of the most well-known brands in America, and
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