Smucker: Completes Divestiture of U.S. Baking Business

Orrville / OH. (sc) The J. M. Smucker Company announced 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 USD. The Company previously announced the signing of a definitive agreement to divest its U.S. baking business in July (see b:eu on 2018-07-12). 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.