Shares jump 13% as Smucker, the food company famous for jams and jellies, said to buy it out for about $4 billion. That’s according to a report by The Wall...
Shares of Hostess Brands , the makers of Twinkies, jumped on Monday after it was reported that J.M. SmuckerCo. is about to buy it.
Smucker, the food company famous for jams and jellies, beat out competition against General Mills, the maker of Cheerios, to buy out Hostess for about $4 billion. That’s according to a report by The Wall Street Journal.A buyout would mark a dramatic recovery for Hostess, which has been through two Chapter 11 bankruptcies. The company returned to the stock market in 2016 after going private. Sales stopped $1.3 billion in 2022 and the stock price has more than doubled in the past five years.
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