FTI Consulting handles Hostess Brands as the marketer of Twinkies, Ding Dongs and Zingers agrees to be acquired by J.M. Smucker Co. in a deal worth $5.6B.
The $34.25 cash/stock transaction represents a 54 percent premium from Hostess’ closing stock price on Aug. 24, the day prior to news reports about the potential takeover.
Andy Callahan, Hostess CEO, said he’s proud of the team “for the legacy they created in building a premier snacking company and driving industry leading returns for our investors.”
Mark Smucker said his company is adding “an iconic sweet snacking platform, enhancing our ability to deliver brands consumer love and convenient solutions they desire.”
His Orrville, OH-based company markets Smucker’s jellies/jams, Jif peanut butter, Milk Bone dog treats, Meow Mix cat food and Folgers coffee.
FTI Consulting’s Pat Tucker, Brian Waldman and Kyla MacLennan represents Lenexa, KS-headquartered Hostess.