Hostess Brands
American bakery company known for Twinkies and snack cakes.
Hostess Brands Inc. is an American bakery company formed in 2013, whose main operating subsidiaries are Hostess Brands, LLC, and Voortman Cookies Limited. It produces snack cakes under the Hostess and Dolly Madison brand names, while its Canadian subsidiary makes wafers and cookies under the Voortman brand. The J.M. Smucker Company agreed to acquire Hostess Brands for $5.6 billion in a cash and stock deal in September 2023, with the purchase completed in November.
Quick Facts
- Founded
- 2013
- Key people
- Jerry D. Kaminski (chairman of the board); Andy Callahan (CEO)
- Predecessor
- Old HB
- Industry
- Food (bakery)
- Employees
- 2,000
- Parent
- The J.M. Smucker Company (2023–present)
- Products
- Brands such as Hostess
- Voortman
- Dolly Madison
- Donettes
- Twinkies
- CupCakes
- Ding Dongs
- HoHos
- Zingers
- Snoballs
Facts from the source article.
History
Hostess Brands came into existence in June 2013 through a partnership between Apollo Global Management and C. Dean Metropoulos and Company. They bought the cake business assets of Old HB, the entity previously known as Interstate Bakeries and Hostess Brands Inc., after it entered Chapter 11 bankruptcy and liquidation. Through the bankruptcy court, the venture took over the name, branding, and most of the product line from the original Hostess. The purchase included four bakeries in Columbus, Georgia; Emporia, Kansas; Indianapolis, Indiana; and Schiller Park, Illinois, though the Schiller Park location shut down in October 2014. In July 2016, Hostess announced plans to go public with a valuation of $2.3 billion. Under this deal, Apollo and Metropoulos became minority owners, while The Gores Group took a majority stake. Instead of a traditional IPO, Gores Holdings, a Nasdaq-listed company, acquired Hostess through a special-purpose acquisition company process and then renamed itself Hostess Brands, Inc., changing its ticker from GRSH to TWNK. Andy Callahan became CEO in May 2018. On September 11, 2023, The J.M. Smucker Company agreed to buy Hostess Brands for $5.6 billion in a cash-and-stock deal, completing the acquisition on November 7, 2023.
Mergers and acquisitions
Hostess made its first purchase since its 2013 comeback on June 14, 2016, buying Superior Cake Products. On February 1, 2018, it added the Big Texas and Cloverhill Bakery brands from Aryzta. Hostess then sold Superior Cake Products to Sara Lee Frozen Bakery for $65 million on August 1, 2019. Later that year, on December 2, it announced the acquisition of Canadian cookie maker Voortman Cookies Limited from Swander Pace Capital for roughly US$320 million, a deal completed in January 2020.
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