J.M. Smucker sees annual cost synergies of approximately $100M

The company stated in prepared remarks, “We expect long-term annual net sales growth for the Sweet Baked Snacks business of approximately 4%. We anticipate expanded distribution for both Hostess and Smucker products through the complementary capabilities of the combined businesses supporting our long-term growth expectations. We also anticipate annual cost synergies of approximately $100 million, half of which are expected to be realized in fiscal year 2025, with the full annualized amount to be achieved by the end of fiscal year 2026. We anticipate the Sweet Baked Snacks business to be accretive to adjusted earnings per share next fiscal year, as a result of a full-year of ownership, business growth, synergy realization, and interest expense reduction through debt paydown.”