J.M. Smucker boosts coffee portfolio
ORRVILLE, Ohio — J.M. Smucker said it has completed its acquisition of the coffee brands and business operations of Rowland Coffee Roasters, a privately owned, Miami-based company.
The company completed the $360 million transaction with cash on hand and borrowings under its existing credit facility. The transaction is expected to contribute approximately 5 cents per diluted common share to fiscal 2012 earnings, excluding one-time costs of the transaction, J.M. Smucker said.
Rowland Coffee's products primarily are sold under the leading Hispanic Cafe Bustelo and Cafe Pilon brands, J.M. Smucker said.
J.M. Smucker sells products under the Folgers and Dunkin' Donuts brands.