Folgers has been providing Americans their caffeine fix for over 150 years. Not only has folgers been long lasting but they are now one of the most known coffee brands in the United States.
The red Folgers coffee can is on the shelves across the country and their signature holiday commercials are unavoidable during the Christmas season. Everyone knows the best part of waking up if Folgers in your cup but few know who owns Folgers.
Current Ownership of Folgers Coffee
Today Folgers is owned by The J.M. Smucker Company. The J.M. Smucker company is a publicly traded company that is primarily owned by institutional investors with approximately 82% of shoes held by institutions.
The top holders are Vanguard Group Inc at 12.2%, Blackrock Inc. at 8.6%, State Street Corporation at 6.2% and Geode Capital Management LLC. at 2.4% of shares.
The Folgers brand is institutionally owned through the J.M Smucker Company.
History of Folgers Ownership
The company that would eventually become known as Folgers was founded in 1850 in San Francisco. The Pioneer Steam Coffee and Spice Mills company was founded by William Bovee. By 1965 J.A. Folger became a full partner after having started as a carpenter at the mill.
Folger acquired the entire company by 1872 and renamed it to J.A Folger & Co. Folgers was kept in the faimly with multiple faimly members leading the company over the years.
In 1963 Folgers was acquired by Procter and Gamble who stewarded the company to become the number one coffee brand in America. P&G is also responsible for the famous jingle about the best part of waking up.
By 2008 P&G no longer wanted to be in the coffee business. The brand was sold to the J.M. Smucker Company in a deal worth 3.3 billion.