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Hostess Brands

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business2 years ago

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.

via BBC|
#acquisition#business#food-industry
business2 years ago

Smucker's $5.6 Billion Acquisition of Hostess: A Perfect Match

J.M. Smucker CEO, Mark Smucker, discusses the company's acquisition of Hostess Brands, highlighting how the two brands complement each other and expand their snack offerings. Smucker emphasizes the compatibility between Hostess's sweet treats and Smucker's Uncrustable snack, and believes that consumers will continue to desire indulgent snacks alongside healthier options. The $5.6 billion deal is expected to close by Smucker's fiscal third quarter, with Smucker also taking on Hostess's $900 million debt.

via CNBC|
#acquisition#business#complementary-capabilities
business2 years ago

JM Smucker Acquires Hostess Brands for $5.6 Billion, Including Twinkies

The J.M. Smucker Co. has agreed to acquire Hostess Brands, the maker of Twinkies and HoHos, in a cash and stock transaction valued at approximately $5.6 billion. The acquisition will expand Smucker's portfolio of consumer foods and provide access to Hostess' strong convenience store distribution and innovation pipeline. The transaction is expected to close in the third quarter of Smucker's current fiscal year.

via ABC News|
#acquisition#business#consumer-foods
business2 years ago

Smucker's Acquires Hostess Brands in $5.6B Deal

J.M. Smucker, the maker of jellies, Jif peanut butter, and Uncrustables, has agreed to acquire Hostess Brands, the maker of Twinkies, Ho Hos, and Ding Dongs, in a $5.6 billion deal. The takeover will add iconic sweet snacks to Smucker's portfolio, which already includes coffee and pet food brands. Analysts have raised questions about how the brands will blend, given Smucker's lack of shelf-stable snacks, but Smucker expects to cut $100 million in costs within two years. Hostess Brands, which has experienced bankruptcy in the past, has been able to increase sales and profits by raising prices in response to supply chain disruptions and higher energy prices.

via The New York Times|
#acquisition#business#food-industry
business2 years ago

J.M. Smucker Acquires Hostess Brands, Including Twinkies, for $5.6 Billion

Jelly-maker J.M. Smucker is acquiring Hostess Brands, the maker of iconic snacks like Twinkies and Ding Dongs, for $5.6 billion. Hostess, which has faced bankruptcy twice in the past two decades, saw its stock price rise as demand for snacks increased. J.M. Smucker beat out competitors like PepsiCo and General Mills to secure the deal, citing Hostess' strong convenience store distribution and innovation pipeline as key factors in the acquisition.

via NPR|
#acquisition#business#hostess-brands
business2 years ago

J.M. Smucker Acquires Hostess Brands for $5.6 Billion in Jelly-Twinkie Deal

Jelly maker J.M. Smucker has agreed to acquire Twinkie owner Hostess Brands for $5.6 billion, with Hostess shareholders receiving a combination of cash and Smucker's stock. The deal comes after Hostess received interest from large food companies, including PepsiCo and Mondelez International. Hostess's stock has risen 25% this year, and the acquisition will see Smucker assume Hostess's debt.

via CNBC|
#acquisition#business#food-industry
business2 years ago

J.M. Smucker Set to Acquire Hostess Brands in $5B Deal

J.M. Smucker, the maker of Jif peanut butter, is reportedly close to acquiring Hostess Brands, the owner of Twinkies snack cakes, for approximately $5 billion. The deal value does not include Hostess' net debt of around $900 million. Hostess' stock has risen nearly 27% since August 25 when news of a potential sale emerged. The acquisition comes as U.S. packaged food companies seek mergers amid declining pandemic-era fortunes and the waning benefits of price hikes.

via Reuters|
#acquisition#business#food-industry
business2 years ago

Hostess Brands Considers Sale Amid Takeover Interest

Hostess Brands, the maker of Twinkies and other snack cakes, is considering a sale after receiving interest from major snack food companies. The company's decision to raise prices on some products to boost revenue has sparked concerns among investors. General Mills, Mondelez International, PepsiCo, and Hershey are among the potential buyers. Hostess has hired Morgan Stanley to advise on the negotiations, but no agreement is guaranteed. Hostess shares rose 26% on the news, giving the company a market value of nearly $4 billion.

via CNBC|
#acquisition#business#hostess-brands
business2 years ago

Hostess fined $298k for worker's severed fingertip.

Hostess Brands, the maker of Twinkies, is facing a fine of nearly $300,000 after a worker lost their fingertip while working at a facility in Chicago. The US Department of Labor blamed the company for the incident, accusing it of failing to provide proper safety procedures and training. The company has been accused of seven violations of federal safety standards and has the option to contest the allegations. Hostess Brands employs about 3,000 people and reported revenues of more than $345 million in the first quarter of 2023.

via Business Insider|
#business#employee-injury#fines