ORVILLE, Ohio -- J.M. Smucker Co. here said last week it has reach a definitive agreement with the Procter & Gamble Co., Cincinnati, to acquire P&G's Jif peanut butter and Crisco cooking oils businesses in an all-stock transaction. With the successful closing of the transaction, Smucker said it expects its sales to approximately double, to $1.3 million.
ial results of the auction.
McLane Completes C-Store Acquisition
TEMPLE, Texas -- McLane Co. here said it has completed the acquisition of the convenience-store distribution arm of Marsh Supermarkets, Indianapolis. "The strategic location will allow McLane to better serve its existing customer base," W. Grady Rosier, chief executive officer of McLane, said. The company will provide distribution services to Marsh's Village Pantry division and continue providing service to the distribution company's current customers, 960 stores in a seven-state area. The business, with sales of approximately $400 million, will now operate as McLane Indiana.
Nash Finch Reflags U Saves as Sun Marts
MINNEAPOLIS -- Nash Finch Co. here said it has reopened the 14 stores in Nebraska it acquired in August from U Save Foods, Omaha, Neb., under the Sun Mart banner. LeAnn Stewart, spokeswoman for the company, said all Sun Mart stores across Nebraska will be taking part in the grand opening celebration.
Fleming Completes Food 4 Less Remodels
DALLAS -- Fleming here said it has completed major remodels of seven Food 4 Less stores in northern California. Fleming said the stores have been completely updated and new features and conveniences added. "We have significantly upgraded these Food 4 Less stores to better meet the changing needs of today's shoppers," said Tom Strzelczyk, president of Western operations for Fleming retail. "Shoppers are finding increased selection of products, new services and new decor, along with the continued commitment to exceptionally low prices that is the hallmark of a Food 4 Less store."
Webvan To Sell Technology Assets
FOSTER CITY, Calif. -- Defunct Internet grocer Webvan here won a bankruptcy court judge's approval to sell its technology assets to Kaiser Permanente, Oakland, Calif., for a bid price of $2.65 million, according to published reports. The bid came after Webvan founder Louis Border withdrew an earlier bid of $2.5 million for the technology assets. Kaiser Permanente plans to use the technology to distribute pharmaceuticals through its Kaiser Foundation Health Plan division, the reports said.
IGA Forms Partnership to Fight Hunger
CHICAGO -- IGA here said last week it has entered into a partnership with Unilever/Bestfoods to help fight hunger in America during the upcoming holiday season. IGA stores and the consumer product goods manufacturer will make donations to Hunger Free America, a national public-private partnership aimed at ending hunger in the U.S., when shoppers purchase special products, company officials said. IGA stores will also be collecting food donations for local food banks.