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May 02, 1996|Times Staff and Wire Reports

Smucker Pie Unit Gets Different Buyer: Orrville, Ohio-based J.M. Smucker Co. scrapped the sale of its Mrs. Smith's frozen-pie business to ConAgra Frozen Foods and is selling it instead to Flowers Industries Inc. Smucker did not disclose the terms of the sale or why the sale to ConAgra fell through. The sale will result in a fiscal 1996 charge of 4 cents a share. Thomasville, Ga.-based Flowers makes baked goods and snacks under the names Flowers, Nature's Own, Rich Grain, Buttermaid and Sunbeam. Smucker's Class A stock rose 12.5 cents to $21.25. Its Class B stock closed unchanged at $20. Flowers stock rose $1 to $14.375. Omaha-based ConAgra's stock was unchanged at $38.25. All trade on the New York Stock Exchange.

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