Smucker increases its presence in the baking aisle.(J. M. Smucker Company acquires International MultiFoods Corp.)(Brief Article)

Food Institute Report, The, March, 2004

The J. M. Smucker Company agreed to acquire International Multifoods Corp. in a transaction valued at approximately $840 million, which includes the assumption of approximately $340 million in debt. Through the acquisition, Smucker will gain, in the U.S., the Pillsbury baking mixes and ready-to-spread frostings; Hungry Jack pancake mixes, syrup and potato side dishes; Martha White baking mixes and ingredients and Pet evaporated milk and dry creamer. In Canada, Smucker will add Robin Hood flour and baking mixes, Bick's pickles and condiments and Golden Temple flour and rice to its portfolio.

The company's portfolio already contains the Smucker's, Jif and Crisco brands. The total retail sales of the categories in which Orrville, OH-based Smucker now participates...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.