- Hostess Brands Inc TWNK plans to convert an idled factory in Arkadelphia, Arkansas, into a bakery.
- The company will invest $120 million - $140 million to transform the 330,000 square-foot facility.
- The company expects the bakery to be operational in the second half of 2023 and create 150 new jobs over three years.
- Hostess Brands anticipates the new bakery to increase its capacity across its bakeries on its Donettes and cake platforms by approximately 20%.
- Price Action: TWNK shares are trading higher by 0.43% at $22.32 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
