That Didn’t Last Long

The Smucker deal for Wesson is off:

J.M. Smucker and Conagra Brands have called off a deal over the Wesson cooking-oil brand after federal regulators said it could lead to higher prices for consumers.

The Federal Trade Commission filed an antitrust lawsuit on Monday, saying that by buying the Wesson brand, Smucker would control at least 70% of the market for branded canola and vegetable oils sold to grocery stores and other retailers.

Ohio-based Smucker, which reached a tentative deal last May to buy Wesson from Conagra for $285 million, already owns the Crisco brand

I guess the FTC’s challenge was more serious than I realized.

Posted by on March 7th, 2018 at 1:42 am


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