B&G Foods completed the acquisition of Crisco from JM Smucker for $550m.

B&G Foods, an American holding company for branded foods, completed the acquisition of Crisco, an oils and shortening business of JM Smucker, a manufacturer and marketer of food and beverage products, for $550m. “This acquisition is consistent with our longstanding acquisition strategy of targeting well-established brands with defensible market positions and strong cash flow at reasonable purchase price multiples. Crisco has a strong heritage, as the original all‑vegetable shortening that transformed the way people bake and cook over 100 years ago. Crisco is the number one brand of shortening, the number one brand of vegetable oil and also holds a leadership position in other cooking oils and cooking sprays,” Kenneth G. Romanzi, B&G Foods President and CEO.