J.M. Smucker to sell Rachael Ray Nutrish, other pet food brands to Post for $1.2B

The J.M. Smucker Co. has agreed to sell several of its pet food brands to Post Holdings Inc. in a deal worth $1.2 billion in cash and stock.

Orrville, Ohio-based Smucker (NYSE: SJM) said the transaction includes $700 million in cash and 5.4 million shares of Post (NYSE: POST) common stock.

Shares of Post closed at $93.62 a share Wednesday, down 1% from Tuesday’s closing price.

Brands included in the sale include Rachael Ray Nutrish, 9Lives, Kibbles 'n Bits, Nature's Recipe and Gravy Train,…

Previous Xavier University finance major hopes to win 'big' with renter review startup
Next Giant Eagle opens its latest Market District store in Central Ohio