The J.M. Smucker Co. is selling its Crisco brand to the owner of Green Giant for $550 million in a cash deal. The Orrville company made the announcement late Monday afternoon. The buyer is New Jersey-based B&G Foods Inc., which in addition to Green Giant owns more than 50 other brands including Ortega, SnackWells and Cream of Wheat. The move reportedly impacts Crisco manufacturing and warehousing facilities in Cincinnati and about 160 employees. Crisco generated roughly $270 million in sales for Smucker’s 2020 fiscal year that ended April 30. The company said it will further discuss how the sale will impact its 2021 fiscal year when it releases its second quarter results next month.
The J.M. Smucker Company selling Crisco for $550 million
