Classic US snack maker Hostess Brands is being bought rival food giant JM Smucker in a $5.6bn (£4.5bn) deal.
“With this acquisition, we are adding an iconic sweet snacking platform… to drive continued growth,” Smucker’s chief executive Mark Smucker said in a statement.
Shares in the firm known for brands including Twinkies, Donettes and Ho Hos jumped on the news.
Shares in the firm known for brands including Twinkies, Donettes and Ho Hos jumped on the news.
Some of America’s biggest food brands – including PepsiCo, Oreo maker Mondelez International and Cheerios maker General Mills – were also reportedly interested in buying Hostess.
Smucker said it expects the deal to be completed in the third quarter of its current financial year.
Hostess, which is based in the city of Lenexa, Kansas, makes several iconic household brands, including Ding Dongs, Zingers, and Voortman cookies and wafers.
The company, which currently has around 3,000 employees, can trace its roots back more than a century to when the first Hostess CupCake was sold.
In 2012 Hostess filed for bankruptcy after failed talks with its workers’ union left it financially unviable.
Classic US snack maker Hostess Brands is being bought rival food giant JM Smucker in a $5.6bn (£4.5bn) deal.
Shares in the firm known for brands including Twinkies, Donettes and Ho Hos jumped on the news.
“With this acquisition, we are adding an iconic sweet snacking platform… to drive continued growth,” Smucker’s chief executive Mark Smucker said in a statement.
Some of America’s biggest food brands – including PepsiCo, Oreo maker Mondelez International and Cheerios maker General Mills – were also reportedly interested in buying Hostess.
Shares in the firm known for brands including Twinkies, Donettes and Ho Hos jumped on the news.
Shares in the firm known for brands including Twinkies, Donettes and Ho Hos jumped on the news.
Some of America’s biggest food brands – including PepsiCo, Oreo maker Mondelez International and Cheerios maker General Mills – were also reportedly interested in buying Hostess.
Smucker said it expects the deal to be completed in the third quarter of its current financial year.
Hostess, which is based in the city of Lenexa, Kansas, makes several iconic household brands, including Ding Dongs, Zingers, and Voortman cookies and wafers.
The company, which currently has around 3,000 employees, can trace its roots back more than a century to when the first Hostess CupCake was sold.
In 2012 Hostess filed for bankruptcy after failed talks with its workers’ union left it financially unviable.
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