J M SMUCKER Co acquired Jif and Crisco (The Procter & Gamble Company) for all-stock Reverse Morris Trust (Smucker shares issued; ~0.9451 new Smucker share per existing Smucker share), a transaction completed in June 2002, structured as all stock (Reverse Morris Trust). The deal was a Merger.
Jif and Crisco (The Procter & Gamble Company) operates in Peanut butter and shortening / oils, is based in United States (Cincinnati, Ohio / Orrville, Ohio). The Jif peanut butter and Crisco shortening and oils businesses of The Procter & Gamble Company, spun off from P&G and merged into Smucker in an all-stock transaction, adding two iconic center-of-store brands.
Two iconic, market-leading center-of-store brands (Jif, Crisco) acquired tax-efficiently, transforming Smucker's scale. Integrated into Smucker's consumer business
The J.M. Smucker Company and The Procter & Gamble Company today announced the completion of the merger of the Jif peanut butter and Crisco shortening and oils businesses into Smucker. This all-stock transaction, in which the Jif and Crisco brands and their associated assets were spun off from Procter & Gamble and then merged into Smucker, was originally announced by Smucker and Procter & Gamble last October.J.M. Smucker / Procter & Gamble joint press release, June 1, 2002 (8-K Ex 99.1)
Advisory firms were not disclosed for this transaction.