J.M. Smucker completes acquisition of Hostess Brands

The J. M. Smucker Co. (SJM) announced the closing of the transaction to acquire Hostess Brands (TWNK). The company previously announced the signing of a definitive agreement for the transaction on September 11. The company will provide further details about the transaction’s impact on its financial outlook when it reports its second quarter fiscal 2024 results on December 5, J. M. Smucker stated. “We are excited to formally welcome Hostess Brands and for the tremendous opportunity we have with the combined capabilities our businesses offer. Consumers’ increasing reliance on snacking to fit lifestyle needs and convenience choices has expanded the occasions where the category can deliver, and the sweet baked goods category is one of the largest and fastest growing in the industry. With the Hostess acquisition, we have a strong position in this highly attractive segment with popular brands that consumers love. In addition, the synergy of our businesses creates a compelling platform to drive sustainable growth. Hostess offers an expanded distribution model, including strength in the convenience store channel; a robust innovation engine; and extensive manufacturing capabilities. This is complemented by the strong retailer relationships in the grocery and mass channels we have at Smucker; along with our advanced commercial organization, highlighted by our industry leading consumer insights and marketing; and our continuous productivity approach. The combination of these capabilities positions us to deliver on the aspirations we have for the business,” added Mark Smucker, Chair of the Board, President and CEO.