The J. M. Smucker Co. To Acquire Hostess Brands To Accelerate Focus On Convenient Consumer Occasions
Acquiring Company
The J.M. Smucker
Acquired Company
Hostess
Description
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.
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Frequently asked
Who acquired Hostess?
Hostess was acquired by The J.M. Smucker. The deal was reported on September 11, 2023. 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. The J.M. Smucker is privately held and operates in Food and Beverage.
When did The J.M. Smucker acquire Hostess?
The J.M. Smucker's acquisition of Hostess was reported on September 11, 2023. The J. M. Smucker Co. (NYSE: SJM) ("Company") announced today the signing of a definitive agreement to acquire Hostess Brands, Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Hostess do?
Travel & Leisure It is privately held.
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