J.M. Smucker (SJM), owner of the Folgers brand, is acquiring a majority of Sara Lee's (SLE)...

|About: J. M. Smucker Company (SJM)|By:, SA News Editor

J.M. Smucker (SJM), owner of the Folgers brand, is acquiring a majority of Sara Lee's (SLE) coffee and hot beverage business, for $400M in cash. The deal, which includes Sara Lee's Douwe Egberts liquid coffee concentrate business, will boost J.M. Smucker's annual net sales by roughly $285M. SLE +3.4% premarket.