P&G Agrees to Sell Jif and Crisco

The countdown to Brandweek is on! Join us, Sept. 12-16, to identify new growth opportunities, solve challenges and connect with power players. View the lineup and secure your pass.

CINCINNATI– Procter & Gamble said today it has agreed to sell its Jif peanut butter and Crisco oil businesses to jam-manufacturer J.M. Smucker in an all-stock deal.

Under the terms of the agreement, which is structured to be tax-free to P&G investors, shareholders will receive one share of new Smucker stock in exchange for 50 shares of P&G.

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in