JM Smucker to Sell Crisco to B&G Foods for $550 Million
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JM Smucker Co. agreed to sell its Crisco shortening business to B&G Foods Inc. for $550 million in cash.
The deal includes manufacturing and warehouse facilities in Cincinnati in addition to Crisco-branded products, JM Smucker said in a statement. Crisco generated about $270 million in revenue in the fiscal year through April 30, the company said.