SMUCKER TO SELL PILLSBURY BRAND FOR $375 MILLION

J.M. Smucker announced Monday that it would sell its Pillsbury brand to private equity firm Brynwood Partners in a deal valued at $375 million, a price that includes the assumption of an unknown amount of debt. The sale includes the Pillsbury, Martha White, Hungry Jack and White Lily brands. The company, which is based in Orrville, Ohio, says it plans to pivot toward a focus on coffee, pet food and snacks. Pillsbury sales declined an unknown amount in the company’s most recent fiscal quarter, the company disclosed in June.