With this acquisition, we are adding an iconic sweet snacking platform …President and CEO of The J.M. Smucker Co., Mark Smucker, announcing J.M. Smucker has agreed to buy Hostess Brands, potentially merging two major snack companies.
Why It Matters: Smucker’s brands include Folgers coffee, crustless sandwiches called Uncrustables, and Jif peanut butter. Known for Twinkies, Ding Dongs, and Donettes, Hostess has survived decades of economic cycles and two bankruptcies. Of the deal, The Wall Street Journal reports, "Acquiring the Twinkies maker would push Smucker, known for its jams and jellies, further into fast-growing grocery-store aisles, similar to the company’s move into pet food eight years ago."
Something To Consider: The pandemic spurred a significant increase in snacking and making coffee at home.
by Jenna Lee,