secwatch.observer — SEC 8-K summary
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Issuer:     J M SMUCKER Co (SJM)
CIK:        0000091419
Form:       8-K
Filed at:   2023-04-28T23:59:59+00:00
Accession:  0000091419-23-000050
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Smucker closes sale of five pet food brands & private label business to Post Holdings for ~$1.2B
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- Total consideration ~$1.2B: $700M cash (subject to working capital adj.) + ~5.39M shares of Post Holdings.
- Brands sold: Rachael Ray Nutrish, 9Lives, Kibbles 'n Bits, Nature's Recipe, Gravy Train and private label pet food.
- Facilities transferred: Bloomsburg PA (mfg & distribution), Meadville PA and Lawrence KS (manufacturing).
- Divestiture expected to dilute adjusted EPS by ~$0.45 on full-year basis; company plans to offset via buybacks, debt reduction, Transformation Office.
- Further financial impact details for fiscal 2024 to be provided with Q4 FY2023 results in June.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/91419/000009141923000050/0000091419-23-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/91419/000009141923000050/sjm-20230428.htm
  HTML page:      https://secwatch.observer/filing/0000091419-23-000050

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