Smucker Gets Eagle Family Foods

The J. M. Smucker Co. (NYSE: SJM) has acquired Gahanna, Ohio-based canned milk maker Eagle Family Foods Holdings Inc. from Warburg Pincus and GE Asset Management. The transaction is valued at $248 million, including $133 million in cash and the assumption of $115 million in debt. Warburg and GE formed Eagle Family Foods in 1998, following the purchase of a portfolio of dairy brands from Borden Foods.