J.M. Smucker to sell Crisco for $550 million

CLOSE

smucker logo (Photo: none)

J.M. Smucker Co. is cutting out the fat from its food holdings. 

The Orrville company will sell its Crisco brand to the owner of Green Giant and other well-known food-related brands for $550 million in a cash deal, Smucker announced late Monday afternoon. The buyer is New Jersey-based B&G Foods Inc., which besides Green Giant owns more than 50 brands including Ortega, SnackWells, Weber, B&M, Emeril’s, Polaner and Cream of Wheat.

The divestiture of Crisco and related oils and shortening products is in line with Smucker’s previously announced goal of exiting the U.S. baking category to focus on pet food, coffee and snacks, the company said. The move impacts Crisco manufacturing and warehousing facilities in Cincinnati and about 160 employees, the company said in its news release.

More: J.M. Smucker’s new corporate

Read More

JM Smucker to sell Crisco to B&G Foods for $550 million

J.M. Smucker Co. is cutting out the fat from its food holdings.

The Orrville, Ohio-based company will sell its Crisco brand to the owner of Green Giant and other well-known food-related brands for $550 million in a cash deal, it announced Monday. The buyer is New Jersey-based B&G Foods Inc., which owns more than 50 brands including Ortega, SnackWells, Weber, B&M, Emeril’s, Polaner and Cream of Wheat.

The divestiture of Crisco and related oils and shortening products is in line with Smucker’s previously announced goal of exiting the U.S. baking category to focus on pet food, coffee and snacks, the company said. The move impacts Crisco manufacturing and warehousing facilities in Cincinnati and about 160 employees, the company said in its news release.

Listeria outbreak 2020: Outbreak linked to Italian-style deli meats kills 1, hospitalizes 9 across 3 states, CDC says

Dunkin’ sale?: Dunkin’ Brands in talks to go private

Read More