Smucker provides pro forma financials for Hostess Brands acquisition; pro forma net loss of $166.4M for FY2023

J M SMUCKER Co

Purchase price of $5,496.7M: $3,987.8M cash, $450.2M in Smucker shares, $991.0M debt assumed.
Pro forma net loss of $166.4M for year ended April 30, 2023; pro forma net income of $157.3M for Q1 FY2024.
Expected $210M one-time integration costs; anticipates $100M cost savings by fiscal 2026.
Hostess Brands contributed $1,371.5M net sales (12 months ended March 31, 2023); combined pro forma net sales $9,898.3M.
Goodwill recorded at $7,782.3M; intangible assets adjusted to $7,431.4M.

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