Smucker, whose products include coffee, peanut butter, and fresh jelly, is just paying $34.25 in cash and stock. The company will also assume this as the approximate $900 million of net debt.
Hostess Brands Inc. shareholders will get $30 in cash for each share of Hostess Brands Inc., and $0.03002 in stock for each share they own.
In a statement published on Monday, Hostess the President and CEO Andy Callahan said,
We believe this is the right partnership to accelerate growth and create meaningful value for consumers, customers, and shareholders. Our companies share highly complementary go-to-market strategies, and we are very similar in our core business principles and operations,
When Hostess introduced Twinkies to the market in 1930, they quickly gained popularity, and the company went on to create several other sweet snacks, including DingDongs and Zingers, as well as Sno Balls.
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