{"id":60029,"date":"2023-09-12T10:30:46","date_gmt":"2023-09-12T14:30:46","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/j-m-smucker-falls-7-after-confirming-5-6-billion-deal-to-buy-hostess-brands\/"},"modified":"2023-09-12T10:30:48","modified_gmt":"2023-09-12T14:30:48","slug":"j-m-smucker-falls-7-after-confirming-5-6-billion-deal-to-buy-hostess-brands","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=60029","title":{"rendered":"J.M. Smucker falls 7% after confirming $5.6 billion deal to buy Hostess Brands"},"content":{"rendered":"
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\u00a9 Reuters JM Smucker (SJM) falls 7% after confirming $5.6 billion deal to buy Hostess Brands (TWNK)<\/span>
\n<\/i>\n<\/div>\n

J.M. Smucker (NYSE:) announced today that it is set to acquire Hostess Brands (NASDAQ:) for approximately $5.6 billion.<\/p>\n

Shares in the company fell more than 7% on the announcement.<\/p>\n

Hostess Brands shareholders will receive $30 in cash along with 0.03002 shares of J.M. Smucker.<\/p>\n

This acquisition is expected to expand J.M. Smucker’s portfolio of well-loved brands, offering more options in the snacking category. It aims to enhance net sales growth, operating margin, and earnings growth while being accretive to adjusted earnings per share in the first fiscal year, the company said.<\/p>\n

“We are excited to announce the acquisition of Hostess Brands, which represents a compelling expansion of our family of brands and a unique opportunity to accelerate our focus on delighting consumers with convenient solutions across different meal and snacking occasions,” said Mark Smucker, chair of the Board, president and chief executive officer.<\/p>\n

The acquisition of Hostess Brands by J.M. Smucker is expected to add approximately $1.5B in net sales to the company\u2019s portfolio. This addition is anticipated to experience a mid-single-digit percentage annual growth rate.<\/p>\n

Furthermore, the deal is projected to achieve annual run-rate cost synergies of approximately $100 million within the first two years of ownership.<\/p>\n

TWNK shares rose 19% in early Monday trade.<\/p>\n

\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters JM Smucker (SJM) falls 7% after confirming $5.6 billion deal to buy Hostess Brands (TWNK) J.M. Smucker (NYSE:) announced today that it is set to acquire Hostess Brands (NASDAQ:) for approximately $5.6 billion. Shares in the company fell more than 7% on the announcement. Hostess Brands shareholders will receive $30 in cash along […]<\/p>\n","protected":false},"author":1,"featured_media":19136,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-60029","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nJ.M. 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