May 30 (Reuters) - J M Smucker Co:
* The J. M. Smucker company to acquire the Wesson® oil brand from Conagra Brands, Inc.
* J. M. Smucker co says all-cash transaction, which company will fund primarily with debt, is valued at approximately $285 million
* J. M. Smucker co - company anticipates acquisition to add annual net sales of approximately $230 million
* J. M. Smucker co - under terms of agreement, conagra will continue to manufacture products sold under wesson brand
* J. M. Smucker co - annual cost synergies of approximately $20 million are expected to be fully realized within two years after closing
* J. M. Smucker co - after transition period, company expects to consolidate wesson production into its existing oils manufacturing facility in Cincinnati, Ohio.
* J. M. Smucker co says transaction is expected to generate earnings about $30 million and contribute about $0.10 to company’s adjusted eps in first fy after closing Source text for Eikon: Further company coverage: