“I like the deal, if only just because I like this channel for Smuckers,” CNBC’s Jim Cramer said Monday.
"I like the deal, if only just because I like this channel for Smuckers," Cramer said on"Squawk on the Street.""People are desperate for growth in the food business, and this company's got growth," he added, referring to Hostess.
Shares of Smucker, which makes its namesake jelly and owns the Jif peanut butter brand, fell more than 7% Monday, to around $131 each. Hostess Brands stock, meanwhile, surged nearly 19%, to more than $33 per share.
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