The deal is expected to close in the spring of 2024.
that the sale “expands the Company’s offering of beloved brands in growing categories and accelerates its focus on convenient consumer occasions.”
Hostess stockholders will get $30 in cash and .03002 shares of Smucker’s stock for each Hostess stock they own, company officials said. They expect the transaction to close in the spring of 2024. “Today represents another exciting chapter for our company as we combine our iconic snacking brands with The J.M. Smucker Co.’s family of beloved brands,” Andy Callahan, president and CEO of Hostess Brands,. “We believe this is the right partnership to accelerate growth and create meaningful value for consumers, customers and shareholders.”
The sale marked an extraordinary turnaround for Hostess, which filed for bankruptcy twice. The company stopped making treats following a bankruptcy filing and Bakery Workers union strike in 2012, though a pair of investment firms brought the company out of liquidation and returned the brand’s snacks to store shelves in July 2013,
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