Smucker proposal to purchase Folgers approved by shareholders

ORVILLE, Ohio J.M. Smucker Co. shareholders agreed Thursday on a proposed deal to buy Folgers Coffee Co. from Procter & Gamble Co. for $2.95 billion. The deal is an all-stock transaction and will almost double the size of Smucker, doubling its sales to almost $5 billion.

Folgers will be added to Smucker’s current list of various best-selling brands, including Smucker’s popular jellies and jams, Jif, Crisco, Hungry Jack, Eagle Brand, Robin Hood, R.W. Knudsen, Europe’s Best, Bick’s and Carnation.

The deal was announced in June and is expected to close in early November.