Smucker is saying goodbye to Pillsbury and its doughboy

[DonViejo]

Source: CNN



by Rob McLean @robertmclean

July 10, 2018: 6:56 AM ET

J.M. Smucker is offloading Pillsbury and other baking brands.

The company -- known for products like Smucker's jam, Jif peanut butter and Folgers coffee -- announced Monday that it would sell its baking business to private equity firm Brynwood Partners for $375 million.

The deal includes the Pillsbury, Hungry Jack, Martha White, White Lily and Jim Dandy brands, Smucker (SJM) said in a statement.

The move comes during a period of turmoil for big food brands, which are facing challenges navigating shoppers' changing tastes.

Smucker's CEO, Mark Smucker, said selling the baking business will help the more than 120-year-old company focus on bolstering its pet food, coffee and snack offerings.

Read more: https://money.cnn.com/2018/07/09/news/companies/smucker-pillsbury-doughboy-baking/index.html

[hlthe2b]

1. almighty GD dollar... We all know what that means for Pillsbury...

following the path of the many businesses destroyed by private equity firms.

[Auggie]

8. Maybe ...

the firm that bought them is in the food business. It's possible they felt they needed to add SKUs to help the distrubution of all their products. Pillsbury would help in that regard. I wouldn't expect the worst until it happens. But that's not to say it won't.

[Grins]

2. Pillsbury; the company that hired and promoted - Herman Cain. NM

[Achilleaze]

6. Cain was unAbel

[safeinOhio]

3. Sold to private equity firm.

Big money for CEOs, every thing sold off, workers laid off and pensions stolen. Socialism bad, big business good, just not for the middle class.

[FakeNoose]

7. Execs got their bonuses, everyone else gets pink slips

It's the American way!

[murielm99]

4. Awwww....

for Pillsbury.

I went to school with the voice of the Pillsbury Doughboy.

[SoCalNative]

5. Considering Smuckers

is owned bty right-wing asshats, better to not have it as part of their profile anyway.

[tavernier]

9. I use Pillsbury products much more than I use Smuckers productS.

Not that anyone cares.

[End Of The Road]

10. Had to laugh...

...that they want to "focus on bolstering" their pet food brands which are among the worst on the market. They should have dumped them.