J.M. Smucker completes $110 million sale of natural/organics businesses to investment firm

Akron Beacon Journal
·1 min read
The entrance to the J.M. Smucker Co. on Strawberry Lane and Main street in Orrville.
The entrance to the J.M. Smucker Co. on Strawberry Lane and Main street in Orrville.

J.M. Smucker Co. has completed the $110 million sale of its natural and organic beverage and grains businesses to California-based investment firm Nexus Capital Management LP.

The sale, first announced in December, includes the R.W. Knudsen and Tru Roots brands and assets, a licensing agreement for Santa Cruz Organic beverages, and manufacturing and distribution facilities in California and Maryland. It does not include Santa Cruz Originals nut butters, fruit spreads, syrups or applesauce, Orrville-based Smucker said in a news release.

The sale is part of Smucker's strategy to focus on what it calls its core brands positioned for growth. Smucker makes pet food, coffee, and people food that includes peanut butter, jams and jellies. Brands include Smucker's, Folgers, Jif, Milk-Bone, Smucker's Uncrustables, and others.

This article originally appeared on Akron Beacon Journal: Smucker completes $110 million sale of beverage, grains businesses