J. M. Smucker (SLM) Closes Acquisition of N.A. Bevs Business from Sara Lee (SLE)
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Price: $124.32 +1.03%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.7%
Revenue Growth %: +0.5%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.7%
Revenue Growth %: +0.5%
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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 (NYSE: SLE) 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.
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.
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