Exclusive: Twinkies Maker Hostess Brands Explores Sale Amid Takeover Interest, Sources Say
August 29, 2023
Hostess Brands, the maker of Twinkies snack cakes, is reportedly exploring a sale following interest from major snack food companies like General Mills, Mondelez International, PepsiCo, and Hershey. The company raised prices on some of its products to boost revenue, which led to investor concerns about its prospects. Hostess has hired Morgan Stanley as its investment bank to handle the negotiations, and its shares rose by 26% upon news of the potential sale.
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