ORRVILLE, Ohio — J. M. Smucker Company announced Monday the signing of a $400 million definitive agreement to acquire a majority of the foodservice coffee and hot beverage business of Sara Lee Corporation, according to a press release.
The acquisition includes Sara Lee''s market-leading liquid coffee concentrate business sold under the licensed Douwe Egberts® brand, along with a variety of roast and ground coffee, cappuccino, tea and cocoa products, sold through foodservice channels in North America.
"This transaction further strengthens our position as a leading North American coffee company," said CEO Richard Smucker. "The addition of liquid coffee concentrate to the Smucker portfolio aligns with our desire to compete in all forms of coffee, adding to our roast and ground, single serve, instant and ready-to-drink platforms. The innovation partnership further allows us to collaborate on new technologies in the liquid coffee category for the foodservice market."