Folgers is owned by J.M. Smucker (the United States, NYSE: SJM), which acquired the brand on 6 November 2008.[1][2] Before J.M. Smucker, Folgers was owned by Procter & Gamble from 1963 to 2008.[3]
Folgers was founded in San Francisco in 1850 to supply coffee to gold rush prospectors, and is one of the largest ground coffee brands in the United States. Smucker acquired it from Procter & Gamble in 2008 in a transaction structured to be tax-free for P&G shareholders.
Ownership timeline of Folgers
1963 – 2008Procter & Gamble[3]verifiedProcter & Gamble acquired Folgers in 1963 and spun it off to Smucker in 2008.
Smucker acquired Folgers from Procter & Gamble for about $3.3 billion in a Reverse Morris Trust, a structure that let P&G divest the business to shareholders without a large tax charge. It made Smucker the largest packaged coffee company in the United States.