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Smucker's Crisco-Jif deal a prologue to Folgers buy (from Corporate Dealmaker)

Buckeyes Procter & Gamble Co and J.M. Smucker Co. have a long history. And Cincinnati's P&G is hoping Folgers, which it acquired in 1963, will be a profitable strategic addition to Orville, Ohio-based J.M. Smucker's portfolio. P&G shareholders are receiving about 53.5% of Smucker. The deal, after all, is for...

Posted on June 4, 2008 2:49 PM

Smucker to get Folgers in its cup (from Corporate Dealmaker)

Procter & 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...

Posted on June 4, 2008 8:56 AM