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.
