Food stocks are unique because they have almost no growth, yet continue to be loved by investors. That love can sometimes be tested by dramatic accelerations in the economy.
The group snapped back on Thursday when candy maker Hershey rejected a bid by Mondelez International, a sign that Mondelez was attempting to create growth.
Cramer explained that supermarket aisles are pretty much set in stone. So, unless companies buy one another and rationalize them by firing people and running the product through an already established distribution system, there isn't another way to grow.
Instead, the goal is to spend their way into better supermarket real estate.
"I've said that takeovers will be the backbone of the second half because of the lack of growth. Consider today a gun jump on that move, and a good one for the bulls at that," the "Mad Money" host said.