June 4, 2008
P&G sells Foldgers to Smuckers
On Tuesday, J.M. Smucker Co. stated its intent to purchase the Folgers brand from Proctor and Gamble in an all-stock deal. Given Folger's annual sales in excess of $1.6B, the price for the business could be upwards of $2B. The acquisition of Folgers nearly doubles the size of Smucker and would give it the top-selling ground coffee brand in the United States.
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