The Deal
Saturday, July 4, 
2:28 pm

Smucker to get Folgers in its cup

Posted on June 4, 2008 at 8:56 AM
Filed under: Acquisitions
Tagged: , , ,
[ Share ]  [ E-mail ]  [ Leave a Comment ]
FolgersInYourCupBig.pngProcter & Gamble Co. is selling its Folgers coffee unit -- after having considered a spinoff -- to Orrville, Ohio-based J.M. Smucker Co. in an all-stock reverse Morris Trust transaction valued at about $3.3 billion, including the assumption of an estimated $350 million of Folgers debt. Folgers joins a portfolio of brands that include Smucker's, Jif, Crisco, Pillsbury and more. The deal will double the size of Smucker, creating a company with annual sales approaching $5 billion. Tim Smucker, chairman and co-CEO of Smucker, noted that Folgers will become the firm's 10th No. 1 brand in North America. Reuters notes P&G has long been expected to separate the coffee business in order to focus on faster-growing categories like health and beauty.

The deal is expected to close in the fourth quarter. More to come from TheDeal.com and here on CD.
- Baz Hiralal

See to the Folgers-Smucker deal announcement
P&G, Smucker in $3B Folgers deal

Join Corporate Dealmaker's LinkedIn forum

Comments
Post a comment


Search


Search For

Decade of The Deal

Corporate Dealmaker Video


Vanterra's Shad Azimi on PE's evolution

Vanterra Capital's Azimi on how PE firms are investing in management to increase the value of their portfolio companies.


Movers & Shakers


Cuong Viet Do
Tyco Electronics Ltd.

Ram Ramakrishnan
Millipore Corp.

Cliff Miller
DeviceVM Inc.

Sam Wick
News Corp.

Arturo Gomez
Purfresh Inc.
Cuong Viet Do, Tyco Electronics Ltd.
Ram Ramakrishnan, Millipore Corp.
Cliff Miller, DeviceVM Inc.
Sam Wick, News Corp.
Arturo Gomez, Purfresh Inc.


COMPLETE MOVERS & SHAKERS ARCHIVES

The Magazine


MACDdec1cover.gifAnd the winners are...
Even in a period when things like toxic credit default swaps and noxious structured investment vehicles dominate the conversation in many parts of the deal community, people are still willing to take the time to recognize skill and achievement in the strategic transactions that help those companies adapt and grow.
View the complete issue


Last Issue
Archives
Suggest a topic
Purchase a reprint
Subscribe to The Deal


Monthly Archives


Syndicate

Contributors

footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg footspacer.jpg


©Copyright 2009, The Deal, LLC. All rights reserved. Please send all technical questions, comments or concerns to the Webmaster.