Smucker agrees to buy Twinkies maker Hostess Brands for $5.6 billion
Publishing timestamp: 2023-09-11 11:13:50
Summary
J.M. Smucker is acquiring Hostess Brands for $5.6 billion, with the deal expected to close in Smucker's fiscal third quarter. This acquisition is part of a trend of Big Food companies seeking growth opportunities. Hostess saw a decline in demand for its products after raising prices, leading to investor concern and takeover interest.
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Keywords: hostess brands inc, unilever plc, campbell soup co, pepsico inc., mergers and acquisitions, breaking news: business, business news, mondelez international inc, j m smucker co, food and drink, retail industry,