J.M. Smucker bought Hostess for $5 billion in 2024, which in retrospect certainly seems like the wrong time to buy a snack food company. Sales have declined, thanks to cuts in discretionary spending, trends related to health and fitness and the rapid ascent of GLP-1 drugs. Overall snack sales in the United States are down four percent in the past four years, and sales of sweet snacks are down 17 percent.
Jesse Newman, The Wall Street Journal
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