11 September 2023
The J. M. Smucker Co. (NYSE: SJM) announced today the signing of a definitive agreement to acquire Hostess Brands, Inc. (NASDAQ: TWNK) for $34.25 per share in a cash and stock transaction, representing a total enterprise value of approximately $5.6 billion, which includes approximately $900 million of net debt.
The acquisition expands the Company’s offering of beloved brands in growing categories and accelerates its focus on convenient consumer occasions.
The company will offer $30 per share in cash to Hostess Brands shareholders plus 0.03002 of a share of the company’s common stock.
More, Source: Company’s Press Release