Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. Your CNN account Log in to your CNN account In 2016, the company was sold in a deal that took the brand public again. returned Twinkies to store shelves in July 2013 after acquiring the asset from Hostess. The firms of Apollo Global Management and C. It filed for bankruptcy in January 2012, and stopped making its products, including Twinkies, in November of that year during a strike by Bakery Workers union. Hostess was founded in 1919 and started making Twinkies in 1930. Smucker said the acquisition positions it to “deliver on consumer needs across occasions with greater convenience and selection.”Ī purchase is a remarkable turnaround for Hostess, which has filed for bankruptcy twice during its existence.
It has even branched out to making cereals.Īdding Hostess bolsters Smucker’s portfolio, which already contains a variety of sugary snacks, including Jif peanut butter, Uncrustables and its namesake Smucker’s jelly and jams. In addition to Twinkies, Hostess makes a number of sweet treats including Zingers, Snoballs and Ding Dongs. “Our companies share highly complementary go-to market strategies, and we are very similar in our core business principles and operations.” “We believe this is the right partnership to accelerate growth and create meaningful value for consumers, customers and shareholders,” Hostess CEO Andy Callahan said in a statement. 03002 shares of Smucker’s stock for each Hostess share they own, with the deal expected to close in 2024.
Hostess stockholders will get $30 in cash along with.
The stock is already up 20% for the month after reports surfaced that the 94-year-old company was for sale. Shares of Hostess ( TWNK) soared 19% in early trading. The two companies announced the transaction Monday, with the jelly maker saying that the purchase expands Smucker’s offerings of “beloved brands in growing categories and accelerates its focus on convenient consumer occasions.” Hostess, the maker of Twinkies and Ho Hos, is being purchased by J.M.
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