JM Smucker Buys ConAgra Foods' Knott's Berry Farm Brand
JM Smucker Buys ConAgra Foods' Knott's Berry Farm Brand
JM Smucker Buys ConAgra Foods' Knott's
J.M. Smucker Co. bought ConAgra Foods Inc.'s Knott's Berry Farm food brand, a maker of jams, jellies, preserves and gift boxes.
Financial terms of the deal weren't disclosed.
The acquisition doesn't include the Knott's Berry Farm amusement park, which isn't owned by ConAgra's Knott's Berry Farm.
ConAgra said the sale won't affect its full-year 2009 sales and profit growth expectations. J.M. Smucker expects the deal to add about $40 million in annual sales to its portfolio.
Production will be transition to J.M. Smucker's manufacturing facilities over the next four months.
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