Smucker Sells Mrs. Smith's Frozen-Pie Unit

ORRVILLE, Ohio - The J.M. Smucker Co. held something of a bake sale yesterday, agreeing to sell its Mrs. Smith's frozen-pie business to ConAgra Inc.

Smucker bought the pie business from Kellogg Co. in 1994 for about $80 million. Terms of the ConAgra deal were not disclosed, but Smucker said it would result in a small loss on its investment.