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Smucker Bids Adieu To Pillsbury Dough Boy

The company -- known for products like Smucker's jam, Jif peanut butter and Folgers coffee -- announced Monday that it would sell its baking business to private equity firm Brynwood Partners for $375 million. The deal includes the Pillsbury, Hungry Jack, Martha White, White Lily and Jim Dandy brands, Smucker said in a statement.

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