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JM Smucker.

JM Smucker has completed its previously announced acquisition of Eagle Family Food Holdings, a privately held producer of condensed and evaporated milk. The transaction was valued at a total of $248 million, consisting of a cash payment of $133 million and the assumption of $115 million in outstanding debt. Eagle is North America's largest producer of sweetened condensed and evaporated milk. Smucker said the deal increases the company's presence in the baking aisle, alongside the Crisco, Pillsbury, Martha White, White Lily and PET brands in the United States and the Crisco, Robin Hood and Five Roses brands in Canada. Smucker added that the deal opens future growth opportunities and increases the possibilities of further cross marketing and promotion.
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Title Annotation:acquires Eagle Family Food Holdings
Publication:Food & Drink Weekly
Article Type:Brief article
Date:May 7, 2007
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