Snack-quisition: Smucker Buys Hostess
The deal is worth approximately $5.6 billion.
Source: convenience.org
Stay updated with breaking news from Sovos Brands. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The deal is worth approximately $5.6 billion.
Food industry news, voices and jobs. Optimized for your mobile phone.
J.M. Smucker said on Monday it will buy Twinkies-maker Hostess Brands in a US$5.6-billion deal, as major U.S. packaged food companies look to expand their brand portfolios with pandemic-era fortunes dwindling.
J.M Smucker has grown beyond jam and jelly to include Folgers coffee and Jif peanut butter.
Shares of the classic jelly company crashed as much as 8% while Hostess stock rallied by more than double that on Monday.