Smucker Announces , Massive Deal to Acquire , Hostess Brands.<br />NBC reports that J.M. Smucker has purchased<br />Hostess Brands in a massive $5.6 billion deal. .<br />NBC reports that J.M. Smucker has purchased<br />Hostess Brands in a massive $5.6 billion deal. .<br />As part of the deal, <br />the jelly maker has agreed to <br />assume all of Hostess's debt. .<br />For each share Hostess shareholders own, <br />they will reportedly receive $30 in cash <br />and .03002 shares of Smucker's stock. .<br />For each share Hostess shareholders own, <br />they will reportedly receive $30 in cash <br />and .03002 shares of Smucker's stock. .<br />NBC reports that the deal is expected<br />to close in January, when Smucker<br />closes its fiscal third quarter.<br />NBC reports that the deal is expected<br />to close in January, when Smucker<br />closes its fiscal third quarter.<br />The news comes amid a number of major acquisitions <br />by Big Food as it looks to boost growth amid <br />diminishing gains from the pandemic boom.<br />The news comes amid a number of major acquisitions <br />by Big Food as it looks to boost growth amid <br />diminishing gains from the pandemic boom.<br />Campbell's Soup recently purchased <br />Sovos Brands, the maker of Rao's <br />pasta sauce, for $2.7 billion.<br />Campbell's Soup recently purchased <br />Sovos Brands, the maker of Rao's <br />pasta sauce, for $2.7 billion.<br />Other major acquisitions include candy maker Mars <br />purchase of Kevin's Natural Foods and Unilever's <br />acquisition of the frozen yogurt company Yasso. .<br />Other major acquisitions include candy maker Mars <br />purchase of Kevin's Natural Foods and Unilever's <br />acquisition of the frozen yogurt company Yasso. .<br />News of Smucker's acquisition of Hostess saw <br />the Twinkies maker's stock climb 18% in premarket <br />trading, while Smucker's stock dropped 7.5%.<br />News of Smucker's acquisition of Hostess saw <br />the Twinkies maker's stock climb 18% in premarket <br />trading, while Smucker's stock dropped 7.5%.<br />So far in 2023, Hostess stock has <br />risen 25%, boosting the company's <br />market value to $3.73 billion. .<br />The Hostess brand was revived in 2013 by Apollo Global <br />Management and Metropoulos & Co., after acquiring <br />the assets of the dissolved Interstate Bakeries. .<br />The Hostess brand was revived in 2013 by Apollo Global <br />Management and Metropoulos & Co., after acquiring <br />the assets of the dissolved Interstate Bakeries.
