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The J. M. Smucker Co. To Acquire Hostess Brands To Accelerate Focus On Convenient Consumer Occasions

The J. M. Smucker Co. To Acquire Hostess Brands To Accelerate Focus On Convenient Consumer Occasions

09/11/23, 12:02 PM
Industry
grocery
hospitality
food and beverage
retail
e commerce
The J. M. Smucker Co. (NYSE: SJM) ("Company") announced today the signing of a definitive agreement to acquire Hostess Brands, Inc. (NASDAQ: TWNK) ("Hostess Brands") 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. This represents an adjusted EBITDA multiple of approximately 17.2x based on the Company's estimate of Hostess Brands full year 2023 results, and an approximate 13.2x multiple when including anticipated run rate synergies of $100 million. The acquisition expands the Company's offering of beloved brands in growing categories and accelerates its focus on convenient consumer occasions.

Company Info

Company
The J.M. Smucker
Company info
At The J.M. Smucker Co., it is our privilege to make food people and pets love by offering a diverse family of brands available across North America. We are proud to deliver on consumers' needs in the coffee, consumer foods, dog snacks and cat food categories by offering brands consumers trust for themselves and their families each day including Folgers®, Dunkin'®, Café Bustelo®, Jif®, Smucker's® Uncrustables®, Smucker's®, Milk-Bone® and Meow Mix®. Through our unwavering commitment to producing quality products, operating responsibly and ethically and delivering on our Purpose, we will continue to grow our business while making a positive impact on society. For more information, please visit jmsmucker.com. The J.M. Smucker Co. is the owner of all trademarks referenced herein, except for Dunkin'®, which is a trademark of DD IP Holder LLC. The Dunkin'® brand is licensed to The J.M. Smucker Co. for packaged coffee products sold in retail channels such as grocery stores, mass merchandisers, club stores, e-commerce and drug stores. This information does not pertain to products for sale in Dunkin'® restaurants.