Ohio's jelly and jam company is now officially the proud owner of a coffee brand.
J.M. Smucker Company announced on Wednesday that it has successfully aquired the majority of Sara Lee's coffee brand.
The J. M. Smucker Company (NYSE: SJM) today announced that it has completed the acquisition of a majority of the North American foodservice coffee and hot beverage business of Sara Lee Corporation ("Sara Lee") in an all cash transaction. The Company previously announced the agreement with Sara Lee on October 24, 2011.
The acquisition includes Sara Lee's market-leading liquid coffee concentrate business sold under the licensed Douwe Egberts® brand, along with a variety of roast and ground coffee, cappuccino, tea, and cocoa products, sold through foodservice channels in North America. In addition, the companies entered into a long-term innovation partnership to collaborate on liquid coffee technology for the foodservice market.
"We are pleased to complete this transaction which adds the market-leading liquid coffee concentrate business to the Smucker portfolio," said Richard Smucker, Chief Executive Officer. "The transaction further strengthens our position as a leading North American coffee company, provides new coffee technologies, and adds significant scale to our foodservice business. We are excited to welcome the nearly 475 new employees into the Smucker family."
Tuesday September 27th, 2011
This is the 270th day of the year, with 95 days remaining in 2011.
Today is Shut Up and Let Somebody Else Talk Day!
Most (overused) Phrases on TV
(source: Global Language Monitor)
#1) Royal Wedding
#3) Arab Spring
#9) Chicago-style politics
Remember last year's top teleword? "Spillcam," as in the live-feed of the oil gushing from the floor of the Gulf of Mexico.
Happy Women Drink Coffee
Stop complaining about the cost of a cup of coffee at Starbucks, it's certainly cheaper than treating depression!
Copyright © 2013 AkronNewsNow & Rubber City Radio Group |All Rights Reserved | 1795 West Market Street | Akron, OH 44313 | 330.869.9800