The J.M. Smucker Co. is selling its shelf-stable baking business, including the exclusive U.S. rights to the Pillsbury brand, along with the Hungry Jack, White Lily, Jim Dandy, Martha White and Funfetti brands, to equity firm Brynwood Partners VII LP and Brynwood Partners VIII LP for $375 million. The Pillsbury brand license agreement is a royalty-free, perpetual agreement […]