Smucker, which also houses coffee and pet food brands, has a market valuation of over $14 billion and had raised prices of its jams and jellies, which helped boost its profit forecast for the year. It has managed to keep its revenue growing, sometimes by raising prices as sales volumes weakened.
#My story maker archive#
With this tool, children compose a story, and its cover, select images from the graphic library of the tool or from their own archive and are gradually introduced to the concept of illustration and narration. The deal with Smucker represents a major turnaround for Hostess, which has filed for bankruptcy twice, in 20, due to a combination of private equity owners saddling it with debt and failing to come up with new snacks that appealed to consumers.Įntrepreneur Dean Metropoulos and private equity firm Apollo Global Management Inc (APO.N) returned Hostess to the stock market in 2016 through a deal with a special purpose acquisition company backed by the private equity firm founded by Alec Gores.īy the end of 2020, Hostess had revamped its portfolio and was generating revenue of over $1 billion, an important landmark in its turnaround efforts. The My Storybook tool is an easy-to-use tool for preschoolers aged 46 years that guides them step by step in creating their own book. The tie-up between Smucker and Hostess follows a spate of other deals in the sector, including Campbell Soup's $2.7 billion deal for Sovos Brands and Unilever's (ULVR.L) purchase of premium frozen yogurt brand Yasso in North America.īased in Lenexa, Kansas, Hostess was founded in 1930 and is behind several iconic household brands, including Ho-Hos, Ding Dongs, Zingers, and Voortman cookies and wafers.
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