May 30 (Reuters) - Folgers coffee maker J. M. Smucker Co said it would buy packaged food maker Conagra Brands Inc’s edible oil brand, the Wesson, for about $285 million.
J. M. Smucker expects the deal to add about 10 cents per share to its adjusted earnings in the first full-year after close.
Conagra will continue to manufacture products sold under the Wesson brand for up to one year following the close, after which Wesson will be merged into J.M. Smucker’s oils manufacturing facility in Cincinnati, Ohio, the company said on Tuesday. (Reporting by Nikhil Subba in Bengaluru; Editing by Sriraj Kalluvila)