Smucker Acquires Hostess Brands, Boosting Stock and Expanding Portfolio

Food giant JM Smucker has acquired classic US snack maker Hostess Brands in a $5.6 billion deal, adding an iconic sweet snacking platform to drive continued growth. Hostess, known for brands like Twinkies and Donettes, had attracted interest from other major food brands including PepsiCo and General Mills. The deal is expected to be completed in the third quarter of Smucker's current financial year. Hostess, which filed for bankruptcy in 2012 but was saved in 2013, has seen its shares rise by over 19% following the announcement, while Smucker's shares closed 7% lower.