J. M. Smucker To Divest Its U.S. Canned Milk Brands And Operations - Quick Facts

(RTTNews) - The J. M. Smucker Company (SJM) announced it has entered into a definitive agreement to sell its U.S. canned milk brands and operations to Eagle Family Foods Group LLC, a subsidiary of funds affiliated with Kelso & Company. The transaction includes canned milk products that are primarily sold in U.S. retail and foodservice channels under the Eagle Brand and Magnolia brands, along with other branded and private label trade names.

J. M. Smucker said its manufacturing facilities in El Paso, Texas, and Seneca, Missouri, will be included in the transaction. The transaction does not include the company's canned milk business in Canada. The transaction is expected to close by the end of calendar 2015.