J M SMUCKER Co (SJM): M&A transaction — J.M. Smucker completes Hostess Brands acquisition, expanding sweet baked snacks

J M SMUCKER Co

Deal closed Nov 7, 2023; Hostess Brands becomes wholly owned subsidiary of J.M. Smucker.
Consideration per Hostess share: $30.00 cash + 0.03002 SJM shares, plus cash for fractional shares.
52.1% of Hostess shares tendered by expiration; additional 16.64% via guaranteed delivery procedures.
Acquired brands include Hostess (Twinkies, Donettes, etc.) and Voortman; six manufacturing facilities and ~3,000 employees.
Financial impact to be detailed when Smucker reports Q2 fiscal 2024 results on Dec 5, 2023.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

J M SMUCKER Co completed an acquisition involving Hostess Brands, Inc. for $30.00 in cash and 0.03002 common shares of the Company (closed 2023-11-07).

Action: acquisition
Counterparty: Hostess Brands, Inc.
Consideration: $30.00 in cash and 0.03002 common shares of the Company
Closing: 2023-11-07

Exact text from the filing

(the “Offer”) to purchase all issued and outstanding shares of Class A common stock of Hostess Brands, par value $0.0001 per share (the “Hostess Brands Common Stock”) for (a) $30.00 in cash and (b) 0.03002 common shares, no par value per share, of the Company, plus cash in lieu of fractional shares, in each case, without interest and net of any withholding of

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Source: SEC EDGAR

accession 0001193125-23-272302

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