Smucker sells Pillsbury and other baking brands for $375m

The J.M. Smucker Company is selling its US baking business to private equity firm Brynwood Partners for $375m in a bid to focus on other parts of the business.
This means the company will be parting ways with brands including Pillsbury, Martha White, Hungry Jack, White Lily and Jim Dandy. According to Smucker, its baking business generated net sales of approximately $370m for the company's fiscal year that ended April 30.
The move is part of Smucker's plan to focus on aspects of the busines