US food company J M Smucker has announced the sale of its Brazilian operations to US food and agribusiness Cargill.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company said the sale of Smucker do Brasil was in support of its ongoing strategic focus on North America.
The sale is expected to generate net cash proceeds of approximately US$8m and result in a pre-tax loss of approximately $5.5m, which will be recorded by the company as part of its second quarter results. The Brazilian operations contributed approximately $11m in sales to fiscal year 2004 results while operating results were not material.
Smucker makes fruit spreads, peanut butter, shortening and oils, ice cream toppings, and health and natural foods beverages in North America under brands including Smucker’s, Jif and Crisco.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
