Client Work Detail
matter
Europe's Best Acquired by J. M. Smucker
CLIENT
Europe's Best Inc.
DATE
March 26, 2008
EXPERTISE
Competition / Antitrust, Mergers and Acquisitions, Corporate and Commercial, Banking and Financial Products
LAWYER(S)
Patrick Shea, Norman Steinberg, Eric Stevens, Delphine Néant, Daniel Drapeau, Leanne Souquet, Julie Paquet, Thierry Dorval, Miguel Manzano, Jean Piette
On March 26, 2008, The J.M. Smucker Company, acting through a subsidiary, acquired Europe's Best Inc., a privately owned company headquartered in Montréal, Quebec. Europe's Best® is the number one brand of premium, all natural, frozen fruit in Canada and has recently entered the U.S.market and is now available at select US retailers. The transaction was announced on March 4, 2008 and the purchase price was not disclosed.
The acquired business is expected to add approximately $70 million in net sales to The J.M. Smucker Company for its 2009 fiscal year and be slightly accretive to earnings. Europe's Best's administrative functions in Montréal are expected to be transitioned to The J.M. Smucker Company's Canadian headquarters in Markham, Ontario by the end of October 2008. The J.M. Smucker Company, headquartered in Orrville, Ohio and listed on the New York Stock Exchange, is the leading marketer and manufacturer of fruit spreads, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk and health and natural foods beverages in North America.
