Foodservice

JM Smucker completes organic beverage, grains divestiture

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February 1, 2022

The J.M. Smucker Co., which owns Folgers and other consumer brands, has completed the divestiture of its natural and organic beverage and grains businesses to Nexus Capital Management LP in a cash transaction valued at $110 million, subject to a working capital adjustment, according to a press release. The company announced the signing of a definitive agreement on Dec. 15, 2021.

The transaction encompasses R.W. Knudsen and TruRoots assets and trademarks, and a licensing agreement for Santa Cruz Organic beverages. The transaction also includes the company's manufacturing and distribution facilities in Chico, California, and Havre de Grace, Maryland. It does not include Santa Cruz Organic nut butters, fruit spreads, syrups or applesauce.