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Article: Peanut Butter & Jelly Dept. Smucker's Seeks $400M via William Blair.
- Article from:
- Private Placement Letter
- Article date:
- April 16, 2007
- Author:
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William Blair was in the market last week with a $400 million deal for J.M. Smucker Co. (Smucker's), a maker of branded jellies and spreads, sources said.
The deal is expected to price with a 15-year final, 10-year average life maturity, and marks William Blair's first traditional private placement offering of the year. Publicly-traded Smucker's has no outstanding corporate debt.
Orrville, Ohio-based Smucker's trades on the New York Stock Exchange (Ticker: SJM) and has a $3.1 billion market cap and employs 2,500 workers worldwide. The company makes and markets branded food products including fruit spreads, peanut butter, shortening and oils, fruit and ...