Knott’s Berry Farm, maker of jams, jellies, preserves and gift sets, has been bought out by J.M. Smucker, ConAgra Foods today announced.
Details of the transaction have not been released, but ConAgra has said that the sale will not affect its 2009 sales and profit growth projections. The acquired business is expected to add approximately $40 million in annual net sales to the J.M. Smucker portfolio.
The buyout does not include the Knott’s Berry Farm amusement park, located in Anaheim, Calif. That property is owned by Cedar Fair L.P., a publicly-traded company based in Sandusky, Ohio.
Sources said that production of Knott’s Berry Farm food products will transition to Smuckers’ facilities during the course of the next four months.