Hostess Brands may be floating along well so far, but Jim Cramer is worried about this consumer foods play for a host of reasons.
"Hostess Brands' growth is decelerating, the balance sheet is less than ideal with $1 billion of debt," and there's a risk of private equity shareholders unloading their positions and hurting the newly public stock, the "Mad Money" host said.
And while Cramer has nothing against private equity practices, some of them could endanger the interests of Hostess' public shareholders, he added.
"That's why my takeaway here is simple: if you like Hostess, I bet you'll love Flowers Foods, FLO, a pure-play bakery company and the owner of most of the bread brands that Hostess sold back in 2013," Cramer said.
Flowers Foods' balance sheet is much cleaner, with less debt than Hostess, and the stock has soared 27 percent higher in the past six months thanks to strong earnings.
So despite Cramer's love for Twinkies, private equity baggage is not his cup of tea, so he recommends sticking with Flowers Foods. "It's much less risky and better for you," he said.