Montreal frozen-fruit company Europe’s Best has reached a deal to sell itself to U.S. jam giant J.M. Smucker.
Smucker, the Ohio-based owner of well-known U.S. brands such as Crisco and Pillsbury, has expanded into Canada in recent years by buying brands such as Robin Hood, Bick’s, Carnation and Five Roses.
Terms of the deal weren’t disclosed Tuesday, other than that the two companies expect to close the deal by the end of this month and Smucker expects the deal to add about US$70 million to its net sales in fiscal 2009.
Read Also
Pulse Weekly: India imposes 30 per cent tariff on yellow peas
Pulse Canada is quite unhappy with the Indian government’s recent move to slap a 30 per cent tariff on its yellow pea imports, said the pulse organization’s board chair Terry Youzwa.
Europe’s Best’s head office functions in Montreal are to be transferred to Smucker’s Canadian head office at Markham, Ont., by the end of October, the buyer said in a release Tuesday.
Europe’s Best touts itself as the top brand of “premium, all-natural” frozen fruit in Canada. The company recently launched an ad campaign promoting the convenience of its bagged, cut products in making smoothie drinks. Its brand name notwithstanding, the company said on its site that it sources fruit and vegetables from around the world.
The company sells its cut products in resealable, stand-up retail pouches and in larger club store bags, including raspberries, blueberries, cranberries, sliced and whole strawberries, pineapple, mango, asparagus, baby corn, beans and small carrots, among others, as well as several bagged blends.
