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PARSIPPANY, NJ. — B&G Foods, Inc. has agreed to acquire the Crisco oils and shortening business from The J.M. Smucker Co., Orrville, Ohio, in a cash transaction valued at approximately $550 million, subject to a post-closing inventory adjustment.

The transaction includes oils and shortening products sold under the Crisco brand, certain trademarks and licensing agreements, dedicated manufacturing and warehouse facilities located in Cincinnati, and approximately 160 employees. The business generated net sales of approximately $270 million in the fiscal year ended April 30.

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