J.M. Smucker will add well-known brands Hungry Jack, Pillsbury and Martha White with the acquisition of International Multifoods, the companies announced. Smucker, which is using the purchase to bolster its presence in stores' baking sections, will pay $500 million in stock and cash for Multifoods. One analyst said Smucker paid a "premium" for the acquisition, and another noted Multifoods brands are carb-centric in an era of low-carb dieting.

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