February 26, 2016

JM Smucker Purchases Big Heart Pet Brands for $5.8B

JM Smucker Co. officials announced the company would purchase the privately held Big Heart Pet Brands, manufacturer of pet foods. The cash and stock deal between JM Smucker and Big Heart is valued at $5.8 billion.

Smucker representatives said the company will offer 17.9 million shares to Big Heart’s shareholders and pay $1.3 billion in cash, according to media reports.

The company will assume roughly $2.6 billion of net debt of Big Heart Pet Brands.

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