J. M. Smucker Successfully Acquires Eagle Family Foods
The J. M. Smucker Company completes the acquisition of Eagle Family Foods Holdings Inc., a privately-held company, for $133 million in cash and the assumption of $115 million in debt, in a transaction valued at $248 million. The acquisition of Eagle, the largest producer of sweetened condensed and evaporated milk in the United States and Canada, increases Smucker's prominence in the baking aisle alongside the Crisco, Pillsbury, Martha White, White Lily and PET brands in the United States and the Crisco, Robin Hood and Five Roses brands in Canada.