Orville-based JM Smucker to buy Hostess for $5.6 billion
As part of the deal, Smucker will pick up Hostess' roughly $900 million of net debt.
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As part of the deal, Smucker will pick up Hostess' roughly $900 million of net debt.
Hostess, the maker of snack classics like Twinkies and HoHos, is being sold to J.M. Smucker in a deal worth about $5.6 billion.
Hostess Brands struggled for years and nearly vanished before it filed for Chapter 11 bankruptcy reorganization in early 2012.
The maker of snack classics like Twinkies and HoHos motored along for decades, but its struggles began to grow in this century, with workers blaming mismanagement and a failure to invest in brands to keep up with changing tastes.
Hostess, the maker of snack classics like Twinkies and HoHos, is being sold to J