ORRVILLE, Ohio, Aug. 31, 2018 /PRNewswire/ -- The J. M.
Smucker Company (NYSE: SJM) (the "Company") announced today the
closing of the transaction to sell its U.S. baking business to
Brynwood Partners VII L.P. and Brynwood Partners VIII L.P. for
$375 million. The Company
previously announced the signing of a definitive agreement to
divest its U.S. baking business on July 9, 2018. The
transaction primarily encompasses products sold in U.S. retail
channels under the Pillsbury®, Martha White®, Hungry
Jack®, White Lily®, and
Jim Dandy® brands,
along with all relevant trademarks and licensing agreements, and a
manufacturing facility in Toledo,
Ohio. The transaction does not include the Company's baking
business in Canada.
About The J. M. Smucker Company
For more than
120 years, The J. M. Smucker Company has brought families together
to share memorable meals and moments. Guided by a vision to
engage, delight, and inspire consumers through trusted food and
beverage brands that bring joy throughout their lives, Smucker has
grown to be a well-respected North American marketer and
manufacturer with a balanced portfolio of leading and emerging,
on-trend brands. In consumer foods and beverages, its brands
include Smucker's®, Folgers®,
Jif®, Dunkin'
Donuts®, Crisco®, Café
Bustelo®, R.W. Knudsen Family®,
Sahale Snacks®, Smucker's®
Uncrustables®, Robin
Hood®, and Bick's®.
In pet food and pet snacks, its brands include
Rachael Ray®
Nutrish®, Meow Mix®,
Milk-Bone®, Kibbles 'n Bits®, Natural
Balance®, and Nature's Recipe®.
The Company remains rooted in the Basic Beliefs of
Quality, People, Ethics, Growth, and Independence
established by its founder and namesake more than a century ago.
For more information about our Company, visit
jmsmucker.com.
The J. M. Smucker Company is the owner of all
trademarks referenced in the prior paragraph, except for the
following, which are used under license: Dunkin' Donuts® is a
registered trademark of DD IP Holder LLC, and Rachael Ray® is a registered
trademark of Ray Marks Co. LLC.
Dunkin'
Donuts® brand is licensed to The J. M. Smucker
Company for packaged coffee products sold in retail channels such
as grocery stores, mass merchandisers, club stores, and drug
stores. This information does not pertain to Dunkin' Donuts® coffee or other
products for sale in Dunkin'
Donuts® restaurants.
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SOURCE The J. M. Smucker Company