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

By Mike Murphy

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)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) soaring more than 20% over the past month. In August, Reuters reported General Mills Inc. (GIS), Mondelez International Inc. (MDLZ), PepsiCo Inc. (PEP) and Hershey Co. were among the companies interesting in acquiring it.

-Mike Murphy

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

09-10-23 2300ET

Copyright (c) 2023 Dow Jones & Company, Inc.