J M SMUCKER Co acquired Sara Lee Corporation's North American foodservice coffee business for $420.6 million, a transaction completed in January 2012, structured as all cash. The deal was a Carve-out.
Sara Lee Corporation's North American foodservice coffee business operates in Foodservice coffee and hot beverages, is based in North America. A majority of the North American foodservice coffee and hot beverage business of Sara Lee Corporation, including the market-leading liquid coffee concentrate business sold under the licensed Douwe Egberts brand, plus roast and ground coffee, cappuccino, tea and cocoa products sold through foodservice channels.
Strengthens Smucker's position as a leading North American coffee company, provides new coffee technologies, and adds significant scale to its foodservice business; the companies also entered a long-term innovation partnership on liquid coffee technology.
Market-leading liquid coffee concentrate franchise and added foodservice scale plus coffee technology. Integrated into Smucker's Foodservice / Coffee business
We are pleased to complete this transaction which adds the market-leading liquid coffee concentrate business to the Smucker portfolio.Richard Smucker, Chief Executive Officer, The J.M. Smucker Company
The transaction further strengthens our position as a leading North American coffee company, provides new coffee technologies, and adds significant scale to our foodservice business.Richard Smucker, CEO, The J.M. Smucker Company (completion release)
Advisory firms were not disclosed for this transaction.