J.M. Smucker signed a definitive agreement to acquire Hostess Brands, Inc., the company announced in a press release today. The $5.6 billion deal includes Hostess Brands’ sweet baked goods brands, manufacturing facilities, and about 3,000 employees, as well as roughly $900 million of net debt.
The acquisition expands Smucker’s family of brands, boosts the company’s convenient occasion strategy, and strengthens the company’s financial profile.
“With this acquisition, we are adding an iconic sweet snacking platform, enhancing our ability to deliver brands consumers love and convenient solutions they desire,” said Mark Smucker, Chair of the Board, President, and CEO of Smucker.
“Today represents another exciting chapter for Hostess Brands as we combine our iconic snacking brands with The J.M. Smucker Co.’s family of beloved brands,” said Andy Callahan, President and CEO of Hostess. “We believe this is the right partnership to accelerate growth and create meaningful value for consumers, customers, and shareholders.”