We have a deep understanding of the coffee industry, and we are committed to providing consumers with the best coffee experience possible. Our team of experts is dedicated to finding the perfect blend of flavors from different regions around the world, and we take great pride in our roasts and varieties. We also strive to maintain the highest standards of quality throughout the entire process. In January of this year, Procter & Gamble (P&G) announced that it would be selling its Folgers brand to The J.
M. Smucker Company in a tax-free stock deal. According to P&G President and CEO A. G.
Lafley, this move was made to maximize the after-tax value of the coffee business for P&G shareholders and minimize earnings-dilution per share. The deal was also beneficial for P&G shareholders as it allowed Smucker to combine Folgers with its existing portfolio, resulting in cost savings and other benefits. The J. Smucker Company is expecting sales to increase 6 percent annually in the long term, with gains of 8 percent.
They plan to continue seeking out acquisitions to help drive sales, and the addition of Folgers will give them more marketing options for retailers. Richard Smucker, President and Co-CEO of Smucker, said that Folgers will be a great addition to their portfolio. Folgers has been owned by Procter & Gamble for 45 years, and is currently the number one selling packaged coffee brand in the United States. Folgers Classic Roast Coffee is made from Mountain Grown beans, which are known for being the richest and most aromatic in the world. In 1985, Folgers expanded their sponsorships by partnering with Joe Ruttman and Larry McClure's Chevrolet team for a test season.
When the deal was closed, Folgers merged with a subsidiary of Smucker, becoming a wholly owned subsidiary. Folgers is sold in Robinson grocery stores across the country.