Smuckers Acquires Eagle

News Editor

eaglelogoEagle Family Foods Holdings Inc., maker of Eagle Brand condensed milk was purchased by the J.M. Smucker Co. for $248 million this week.

The move will force the closing of Eagle Family’s headquarters, where 45 people work. Smucker said some workers will have the chance to transfer to Orrville, Ohio. Smucker also is acquiring Eagle Family’s Magnolia sweetened condensed milk brand, None Such mincemeat, Borden Eggnog and Kava acid-neutralized coffee.

Smucker plans to continue operations at Eagle Family’s manufacturing plants in Seneca, Mo., and El Paso, Texas, where 155 work. The deal is expected to be final May 1. Eagle Family, which is privately held, was formed by GE Investment Private Placement Partners II and Warburg Pincus Ventures. Today, Dairy Farmers of America is also a co-owner of Eagle Family.