When companies merge, or one product segment is acquired by another, they sometimes don’t make sense. This one, however, seems to make sense.
J.M. Smucker Co (SJM.N) will acquire Folgers, the largest U.S. coffee business, from Procter & Gamble Co (PG.N) for stock valued at $2.95 billion, the companies said on Wednesday.
The deal will give P&G shareholders a 53.5 percent stake in Smucker, known for its namesake jellies and jams and which also makes Jif peanut butter and Crisco shortening, brands it acquired from P&G in 2002.
Just imagine the new line of flavored coffees that will be coming our way. Ha! I’m just not sure America is ready for Boysenberry Lattes though.
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