Posted on March - 29 - 2010
J.M. Smucker sells Hungry Jack potato products to Basic American Foods
J. M. Smucker Co. (NYSE: SJM) said it has sold for an undisclosed price its Hungry Jack brand potato products to privately held Basic American Foods of Walnut Creek, Calif.
Smucker said the transaction includes Hungry Jack brand potato products and Idaho Spuds branded potatoes. Hungry Jack pancake mix and syrup products both will remain part of the Smucker family of brands.
“The divestiture of this potato business allows us to better align our company’s resources while at the same time provides Basic American Foods with a product line that is a perfect strategic fit in its portfolio,” Steve Oakland, president of U.S. retail for Smucker’s, Jif and Hungry Jack, said in a statement.
Smucker said Basic American Foods has been a longstanding manufacturer and co-packer of the Hungry Jack and Idaho Spuds brands and is the leading producer of dehydrated potatoes in North America. Other Basic American Foods’ brands are Natures Own Potato Pearls Premium Mashed Potatoes; Golden Grill Russet Premium Hash Brown Potatoes; Quick-Start Home Style Chili; and Santiago Refried and Seasoned Black Beans.
Similar Posts:
- Holland’s Pies boss ‘suspended’
- J.M. Smucker plans big capital spending push, will close four plants
- Temple-Inland board again rebuffs bid from Memphis-based International Paper
- J.M. Smucker to close its Memphis jelly and jam plant by summer 2013
- Primark profits boost
