The J. M. Smucker Co. its $1.2 billion sale of several pet food brands to Post Holdings

On February 8th, 2023, The J. M. Smucker Co. (NYSE: SJM) announced it has entered into a definitive agreement to sell several pet food brands to Post Holdings, Inc. in a transaction valued at approximately $1.2 billion, consisting of $700 million in cash and approximately 5.39 million shares of common stock of Post Holdings, Inc.

The transaction includes the Rachael Ray® Nutrish®, 9Lives®, Kibbles ‘n Bits®, Nature’s Recipe®, and Gravy Train® brands as well as The J. M. Smucker Co.’s private label pet food business.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to The J. M. Smucker Co.