Eagle for Smucker

August 15, 2007/Food Service Director -- The J.M. Smucker Company has announced that its board of directorshas approved the execution of a definitive agreement to acquire Eagle Family Foods Holding Inc., a privately held company headquartered in Columbus, Ohio, for approximately $133 million in cash and the assumption of $115 million in debt. Eagle is the largest producer of sweetened condensed and evaporated milk in the U.S. and Canada. As the market's leading producer of sweetened condensed and evaporated milk, Smucker will be in the unique position to work with its customers to develop the category. The acquisition will also support the company's initiatives aimed at the fast-growing Latino market, where the Magnolia brand of sweetened condensed milk is a leading brand. The foodservice channel offers the company additional opportunities for growth.

From the August 27, 2007, Prepared Foods e-Flash