: Smucker nears deal to buy Twinkies maker Hostess for about $4 billion: report

: Smucker nears deal to buy Twinkies maker Hostess for about $4 billion: report

J.M. Smucker Co. is nearing a deal to buy Twinkies maker Hostess Brands Inc., the Wall Street Journal reported Sunday night.

According to the Journal, which cited sources familiar with the matter, the acquisition could be worth roughly $4 billion, and could be announced as soon as Monday.

Last month, Smucker
SJM,
+0.88%

raised its profit forecast for the year, thanks to price increases. Besides its eponymous jams and jellies, its brands include Carnation, Jif, Knotts Berry Farm and Santa Cruz Organic.

Sale rumors have sent Hostess shares
TWNK,
+0.86%

soaring more than 20% over the past month. In August, Reuters reported General Mills Inc. 
GIS,
+1.78%
,
 Mondelez International Inc. 
MDLZ,
-0.26%
,
PepsiCo Inc. 
PEP,
-0.07%

 and Hershey Co. were among the companies interesting in acquiring it.

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *