---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-232051"
form_type: "8-K"
ticker: "SJM"
cik: "0000091419"
company_name: "J M SMUCKER Co"
filed_at: "2023-09-11T23:59:59+00:00"
generated_at: "2026-06-10T21:57:42.951325+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# J.M. Smucker to acquire Hostess Brands for $5.6B enterprise value, $34.25/share

## Summary
- Acquires Hostess Brands for $34.25/share ($30 cash + 0.03002 SJM shares); total enterprise value ~$5.6B incl. $900M net debt.
- Estimated adj. EBITDA multiple ~17.2x; ~13.2x with anticipated $100M run-rate cost synergies within 2 years.
- Deal adds ~$1.5B net sales with mid-single-digit growth; expected accretive to adjusted EPS in first fiscal year.
- Transaction financed with $5.2B fully committed bridge loan from Bank of America and RBC Capital Markets.
- Expected close in Q3 of fiscal year ending Apr 2024; unanimously approved by both boards.

## SEC filing metadata
- accession: 0001193125-23-232051
- form_type: 8-K
- ticker: SJM
- cik: 0000091419
- company_name: J M SMUCKER Co
- filed_at: 2023-09-11T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/91419/000119312523232051/0001193125-23-232051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/91419/000119312523232051/d450269d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-232051
- JSON: https://secwatch.observer/filing/0001193125-23-232051.json
- Plain text: https://secwatch.observer/filing/0001193125-23-232051.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.