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BRIEF-J. M. Smucker company to acquire Wesson Oil Brand from Conagra Brands for about $285 mln

May 30 J M Smucker Co:

* The J. M. Smucker company to acquire the Wesson® oil brand from Conagra Brands, Inc.

* J. M. Smucker co says all-cash transaction, which company will fund primarily with debt, is valued at approximately $285 million

* J. M. Smucker co - company anticipates acquisition to add annual net sales of approximately $230 million

* J. M. Smucker co - under terms of agreement, conagra will continue to manufacture products sold under wesson brand

* J. M. Smucker co - annual cost synergies of approximately $20 million are expected to be fully realized within two years after closing

* J. M. Smucker co - after transition period, company expects to consolidate wesson production into its existing oils manufacturing facility in Cincinnati, Ohio.

* J. M. Smucker co says transaction is expected to generate earnings about $30 million and contribute about $0.10 to company's adjusted eps in first fy after closing Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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