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Smucker buys Knott’s Berry Farm

BY Jenna Duncan

Knott’s Berry Farm, maker of jams, jellies, preserves and gift sets, has been bought out by J.M. Smucker, ConAgra Foods today announced.

Details of the transaction have not been released, but ConAgra has said that the sale will not affect its 2009 sales and profit growth projections. The acquired business is expected to add approximately $40 million in annual net sales to the J.M. Smucker portfolio.

The buyout does not include the Knott’s Berry Farm amusement park, located in Anaheim, Calif. That property is owned by Cedar Fair L.P., a publicly-traded company based in Sandusky, Ohio.

Sources said that production of Knott’s Berry Farm food products will transition to Smuckers’ facilities during the course of the next four months.

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Red Bull introduces larger can

BY Jenna Duncan

SANTA MONICA, Calif. Red Bull will add a 16.9 oz. can to its regular product line, the company said yesterday. The addition of the larger can comes after initial market research into the popularity of a Limited Edition “Champions of Red Bull” can size.

The 16.9 oz. Red Bulls will be available at convenience, drug, grocery and mass retail store across the U.S. The suggested retail price will range between $2.99 and $3.49 per can, the same price as the test-marketed 16.9-ounce Champions of Red Bull cans.

Sugar-Free Red Bull also will hit the market in the 16.9 oz. can size soon.

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Hershey adds movie incentive program to packaging

BY Jenna Duncan

HERSHEY, Pa. Hershey Co. has launched a promotion for buyers to earn points towards free movie tickets when they purchase marked packages of Hershey’s candies.

Packages of Hershey’s candies, including chocolate kisses, chocolate nuggets, Reese’s peanut butter candies and other varieties will come with “Mega Movie Bonus” points printed on the packages.

When buyers have collected a certain amount of points, they can then redeem them by mail to receive certificates for free admission at select theaters. Packages are worth three to five points each; 15 points can be redeemed for one free movie certificate.

The campaign began March 1 and will run through March 15, 2009.

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