Jelly maker J.M. Smucker has struck a deal to buy Twinkie owner Hostess Brand for $5.6 billion, in a deal made public Monday.
The deal is reportedly part of larger trend in which major food companies are looking for ways to increase profits as the big gains associated with the pandemic are decreasing.
Campbell’s Soup recently said it will buy pasta sauce owner Sovos Bands for $2.7 billion, after M&M’s owner Mars struck a deal in July to buy Kevin’s Natural Foods.