J.M. Smucker Buys Twinkies and Ho Hos Maker Hostess for $5.6 Billion
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Hostess, maker of Twinkies and Ho Hos, is being bought by J.M. Smucker for $5.6 billion.
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The deal expands Smucker's offerings into convenient snacks and accelerates its focus on convenient consumer occasions.
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Hostess shareholders will receive $30 per share in cash plus Smucker stock in the deal expected to close in 2024.
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Adding Hostess bolsters Smucker's portfolio of sugary snacks like Jif peanut butter and Uncrustables.
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The deal marks a major turnaround for Hostess after two bankruptcies and ceasing production in 2012.