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StumbleSmucker buys food company
Monday, March 8, 2004 | 9:22 a.m.
J.M. Smucker Co., the biggest U.S. maker of jams and jellies, said today it agreed to purchase International Multifoods Corp. for about $500 million to boost sales with brands including Pillsbury baking mixes. International Multifoods' shareholders will receive $25 a share in a combination of 80 percent Smucker common stock and 20 percent cash, the firms said in a statement. Smucker will assume about $340 million in debt.
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