NEWS & ANALYSIS

INDUSTRY NEWS
Smucker to acquire product lines from P&G and IFF
The J.M. Smucker Co. announced in October that it reached an agreement with Procter & Gamble Co. to acquire the Jif peanut butter and Crisco cooking oils businesses in an all-stock transaction.

The Jif and Crisco brands and the associated assets will be spun off from P&G and immediately merged with Smucker. P&G shareholders will receive one share of new Smucker stock for every 50 P&G shares they hold in a tax-free …