Latest news with #HostessBrand
Business Upturn
09-08-2025
- Business
- Business Upturn
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of The J.M. Smucker Company
NEW YORK, Aug. 09, 2025 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of The J.M. Smucker Company ('Smucker' or the 'Company') (NYSE: SJM). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether Smucker and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On November 7, 2023, Smucker announced the closing of a transaction to acquire Hostess Brands for about $5.5 billion, $2.4 billion of which was recorded as goodwill in SJM's Sweet Baked Snacks segment. On February 27, 2025, Smucker announced disappointing Q3 2025 results, including in part a comparable net sales decrease of 8% in Sweet Baked Snacks, a $794 million impairment charge related to the goodwill of the Sweet Baked Snacks segment, a $208 impairment charge to the Hostess Brand trademark, and a $268 million loss on the disposal of the Voortman business. On June 10, 2025, Smucker reported disappointing Q4 2025 results, including in part a comparable net sales decrease of 14% in Sweet Baked Snacks, an additional $867 million impairment charge related to the goodwill of the Sweet Baked Snacks segment and an additional $113 million impairment of the Hostess Brand trademark. In contrast to prior assurances about synergies driving sustainable growth, the Company said its updated its 2026 financial plan reflects decreased net sales in the Sweet Baked Snacks segment, noting 'the sustained underperformance of the sweet baked goods since acquisition, led to a reduction of the forecasted growth rate for the Sweet Baked Snacks reporting unit.' On this news, Smucker's stock price fell $17.44 per share, or 15.59%, to close at $94.41 per share on June 10, 2025. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Danielle PeytonPomerantz LLP [email protected] 646-581-9980 ext. 7980
Daily Mail
20-05-2025
- Entertainment
- Daily Mail
Revamped Playboy Mansion finally finished after five years of renovations under new billionaire owner
Renovations on the infamous Playboy Mansion are finally complete after five years. Aerial images show the stunning property looking vastly different than before with a brand new cream and aqua blue color scheme. From some angles, the one debaucherous mansion now resembles a picturesque Disney castle. The surrounding area boasts an impressive guest house, a cobalt blue tennis court, and perfectly manicured lawns and gardens. The rear terrace deck appears to have been extended to allow more space for outdoor entertaining. And to help guests unwind, there's a new 42 by 23-foot solarium. Underneath the solarium, a new luxury state-of-the-art spa-jacuzzi is believed to be finished. The spa also includes a 'cold plunge,' favored by celebrities such as Gwyneth Paltrow, Lady Gaga and Madonna. The late Hugh Hefner's legendary home, which served as the backdrop to his Playboy magazine, was sold in January 2016 to Greek-American business mogul Daren Metropoulos for $100million. Daren, 42, is the son of billionaire businessman Dean Metropoulos, 79. Daren boasts a packed business portfolio, as he headed companies such as Hostess Brand, which produces snacks like Twinkies and HoHos, and Pabst Brewing Company – both at some point owned by his father. Dean is a fan of Hefner's fantasy home, as he was photographed partying it up at the 29-room Holmby Hills property in 2012 alongside rapper Snoop Dogg and an entourage of bunnies. He entrusted the makeover to architect Richard Landry, who has renovated multiple star's houses such as Tom Brady, Kylie Jenner, Rod Stewart, Mark Wahlberg and Sylvester Stallone. Dean has spent the last 18 years buying up iconic properties, with estimating that the mogul has splashed out around $326million so far. Outside of the Playboy Mansion, his purchases include $148million on a Mediterranean Revival-style home in Palm Beach, Florida. 'My general approach is very measured and tactical and I am particularly interested in hidden jewel properties that rarely come to market,' he previously told The Wall Street journal. In addition to owning the $100million Playboy Mansion, Dean also owns a 'miniature' mansion next door worth around $60million. He has hinted in the past that he plans to combine the two estates. Building permits filed with the Los Angeles Department of Building and Safety at the start of renovations five years ago, showed his intention of remodeling the kitchen, family room bathrooms and powder room in the main house. When Dean originally bought the mansion in 2016, he allowed Hefner to live out his last days at his beloved mansion. He died the following year at age 91 from sepsis he had developed after he contracted E. coli. The Playboy Mansion is emblematic of celebrity culture with some of the biggest stars scrambling to enjoy Hefner's lingerie-only dress code for the female guests who cavorted in the caved grotto. Elvis Presley reportedly slept with eight Playmates at once at the home, while John Lennon burned a Matisse original with a cigarette. Donald Trump even filmed an episode of The Apprentice at the mansion where contestants got to meet Hefner and his girlfriends. It also has a dark side, with allegations against disgraced actor Bill Cosby purported to take place during these debauched parties. Judy Huth claimed Cosby assaulted her when she was 15 at Hugh Hefner's home. Chloe Goins claimed she was assaulted by Crosby at the mansion, but criminal charges in the case were ruled out. It was also dirty. Multiple former Playboy bunnies spoke out about the dilapidated building and floors being strewn with dog feces and urine. In 2011, health officials confirmed that the bacteria that causes Legionnaires' disease was found in a whirlpool spa at the Playboy Mansion where more than 100 people fell ill. The Los Angeles County Health Department presented its findings at an annual conference at the Centers for Disease Control in Atlanta. The legionella bacteria also cause a milder illness called Pontiac fever. Symptoms, which include fever and headache, are the same as those suffered by the Playboy Mansion partygoers. Building permits, accessed by in 2023, revealed workmen repaired 'termite and dry-rot damage' from the original wooden framing. The Playboy mansion sits on five acres adjacent to the Los Angeles Country Club – on Charing Cross Road in the exclusive Holmby Hills neighborhood just off the famous Sunset Boulevard. The house was designed by Arthur Kelly for Arthur Letts Jr - the son of Arthur Letts who founded The Broadway, a now-defunct department store – and was completed in 1927. It was purchased by Hefner in 1971 for $1million, becoming the second Playboy Mansion house. The first was a 54-room classical brick and limestone mansion in Chicago's Gold Coast district.
