ORRVILLE, Ohio, Aug. 31, 2018 /PRNewswire/ -- The J. M.
Smucker Company (NYSE: SJM) (the "Company") announced today 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. The Company
previously announced the signing of a definitive agreement to divest its U.S. baking business on July 9, 2018. 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.
About The J. M. Smucker Company
For more than 120 years, The J. M. Smucker Company has brought families together to share memorable meals and moments.
Guided by a vision to engage, delight, and inspire consumers through trusted food and beverage brands that bring joy
throughout their lives, Smucker has grown to be a well-respected North American marketer and manufacturer with a balanced
portfolio of leading and emerging, on-trend brands. In consumer foods and beverages, its brands include
Smucker's®, Folgers®, Jif®, Dunkin'
Donuts®, Crisco®, Café Bustelo®, R.W. Knudsen Family®,
Sahale Snacks®, Smucker's® Uncrustables®, Robin
Hood®, and Bick's®. In pet food and pet snacks, its brands include Rachael Ray® Nutrish®, Meow Mix®, Milk-Bone®, Kibbles 'n
Bits®, Natural Balance®, and Nature's Recipe®. The Company remains rooted in
the Basic Beliefs of Quality, People, Ethics, Growth, and Independence established by its founder and
namesake more than a century ago. For more information about our Company, visit jmsmucker.com.
The J. M. Smucker Company is the owner of all trademarks referenced in the prior paragraph, except for the
following, which are used under license: Dunkin' Donuts® is a registered
trademark of DD IP Holder LLC, and Rachael Ray® is a registered trademark
of Ray Marks Co. LLC.
Dunkin' Donuts® brand is licensed to The J. M. Smucker Company for packaged
coffee products sold in retail channels such as grocery stores, mass merchandisers, club stores, and drug stores. This
information does not pertain to Dunkin' Donuts® coffee or other products for
sale in Dunkin' Donuts® restaurants.
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SOURCE The J. M. Smucker Company