{"id":2028309,"date":"2023-09-11T16:53:02","date_gmt":"2023-09-11T20:53:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/j-m-smucker-agrees-to-buy-hostess-brands-in-5-6-billion-deal\/"},"modified":"2023-09-11T16:54:13","modified_gmt":"2023-09-11T20:54:13","slug":"j-m-smucker-agrees-to-buy-hostess-brands-in-5-6-billion-deal","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/j-m-smucker-agrees-to-buy-hostess-brands-in-5-6-billion-deal\/","title":{"rendered":"J.M. Smucker Agrees To Buy Hostess Brands In $5.6 Billion Deal"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fj-m-smucker-agrees-to-buy-hostess-brands-in-5-6-billion-deal%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2028309&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">(Photo by Kevork Djansezian\/Getty Images)<\/figcaption><\/figure>\n<p>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/james-meyers\">James Meyers<\/a><br \/>1:42 PM \u2013 Monday, September 11,\u2064 2023<\/p>\n<p>Jelly Maker \u200cJ.M. Smucker announced on Monday that they are buying \u2064Hostess Brands for a whopping $5.6 billion, including their ongoing debt, which equates to $34.25 a share. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote data-service=\"twitter\" data-category=\"marketing\" data-placeholder-image=\"https:\/\/c3.oann.com\/wp-content\/plugins\/complianz-gdpr\/assets\/images\/placeholders\/twitter-minimal.jpg\" class=\"cmplz-placeholder-element twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JM Smucker announced this morning\u200b that it&#8217;s buying Hostess Brands for roughly $5.6 billion <\/p>\n<p>Peanut butter &#038; jelly-filled Twinkies? We wouldn&#8217;t say no\u2026\ud83e\udd14\u2063 <a href=\"https:\/\/t.co\/N2LBIuyJwb\">pic.twitter.com\/N2LBIuyJwb<\/a><\/p>\n<p>\u2014 Morning \u200bBrew \u2615\ufe0f (@MorningBrew) <a href=\"https:\/\/twitter.com\/MorningBrew\/status\/1701314105275990051?ref_src=twsrc%5Etfw\">September 11, 2023<\/a><\/p><\/blockquote>\n<p><script type=\"text\/plain\" data-service=\"twitter\" data-category=\"marketing\" async data-cmplz-src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script> <\/div>\n<\/figure>\n<p>The deal is worth close to $4.6 billion, excluding debt, with Smucker paying\u2063 Hostess shareholders around $34.25 per share. <\/p>\n<p>The deal is\u2064 expected to close in\u2064 January of next year, which\u200d is the end of Smucker\u2019s fiscal third quarter. <\/p>\n<p>Hostess has\u200d gone through bankruptcy twice in the past two decades, which was exacerbated when Twinkies were not\u200d on store\u2064 shelves for several months. <\/p>\n<p>During\u2064 the deal, Smucker reportedly had\u200d to fight off rival companies like PepsiCo, Oreo Maker Mondelez\u200b International, and General Mills in order to get Hostess. <\/p>\n<p>The newest deal is one of many recently by Big Food companies, which includes Campbell\u2019s Soup\u2019s $2.7 billion acquisition of Sovos Bands. Unilever bought frozen yogurt brand Yass in June and M&#038;M\u2019s owner, Mars, Inc., bought Kevin\u2019s Natural Foods back in July. <\/p>\n<p>After\u2062 the announcement of\u200c the new deal, \u2062Hostess\u2019\u2063 shares rose 18% in pre-market trading on Monday and Smuckers stock dropped 7.5%. <\/p>\n<p>Over the past \u200dcouple of years, Hostess has seen a dip in consumer demands for its Twinkies and Ding Dong food products\u200d after \u200draising prices to combat inflation, which resulted in higher interest for takeover from larger rival companies. <\/p>\n<p>The acquisition by Smuckers \u2063also ends Hostess\u2019s seven-year run \u200das an independent, publicly-traded company. In 2016, Hostess reportedly went public through a merger with a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/colin-kaepernick-jumps-aboard-spac-craze-looking-to-raise-287-million-for-social-justice-company\/\" title=\"Colin Kaepernick Jumps Aboard SPAC Craze, Looking To Raise 7 Million For \u2018Social Justice\u2019 Company\">special purpose acquisition company<\/a>. <\/p>\n<p>Stay informed! Receive breaking news blasts \u2062directly to your inbox for free. Subscribe here. <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Service Members on this September 11th \u2013 commemorating the lives lost in that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/j-m-smucker-agrees-to-buy-hostess-brands-in-5-6-billion-deal\/\" title=\"J.M. Smucker to acquire Hostess Brands for .6B.\">terror attack 22 \u2063years ago<\/a><\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>New Mexico\u2019s Democrat Governor Michelle Lujan Grisham suspends a portion of the 2nd\u2064 Amendment in Albuquerque, causing outrage.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>The United \u2062Auto Workers Union inches \u200bcloser\u2063 to \u2062a strike.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>In the second part of an exclusive \u200binterview, Alabama Senator Tommy Tuberville speaks out on how Democrats have implemented policies that \u2062have made our armed services \u200dthe \u201cmost woke defenseless military in the history of this country.\u201d  One America\u2019s John Hines has more from Capitol Hill.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Nate Raymond and Jonathan Stempel (Reuters)\u2063 -A federal appeals court on Friday ruled\u2062 the White House, the FBI and top health\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Yelin Mo and Brenda Goh BEIJING\/SHANGHAI (Reuters) \u2013 A new series of smartphones launched by China\u2019s Huawei Technologies has drawn global\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>(Reuters) \u2013 PetroChina has acquired 100% of electric vehicle (EV) charging firm Potevio New Energy Co Ltd in the latest lower-carbon investment\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Munsif\u200c Vengattil\u200d BENGALURU (Reuters) \u200b-U.S. chip firm Nvidia and India\u2019s Reliance on Friday said they have formed a partnership to create\u2026<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>(Photo by Kevork Djansezian\/Getty Images) OAN\u2019s\u00a0James Meyers1:42 PM \u2013 Monday, September 11, 2023 Jelly Maker J.M. Smucker announced on Monday that they are buying Hostess Brands for a whopping $5.6 billion, including their ongoing debt, which equates to $34.25 a share.\u00a0 Advertisement JM Smucker announced this morning that it&#8217;s buying Hostess Brands for roughly $5.6<\/p>\n","protected":false},"author":2301,"featured_media":2028310,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2028309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2028309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2301"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2028309"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2028309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2028310"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2028309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2028309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2028309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}