Hostess Brands Inc (NASDAQ:TWNK) soared more than 18% after J.M. Smucker (NYSE:SJM)Â confirmed it had agreed to buy the Twinkies parent company in a US$5.6.
The J. M. Smucker Co. (NYSE: SJM) ("Company") announced today the signing of a definitive agreement to acquire Hostess Brands, Inc. (NASDAQ: TWNK) ("Hostess Brands") for $34.25 per share in a cash and stock transaction, representing a total enterprise value of approximately $5.6 billion, which includes approximately $900 million of net debt. This represents an adjusted EBITDA multiple of approximately 17.2x based on the Company's estimate of Hostess Brands full year 2023 results, and an approxim
Hostess Brands, Inc. , announced today that it has entered into a definitive agreement with The J.M. Smucker Co. to acquire all of the outstanding shares of Hostess Brands in a cash and stock.