The J.M. Smucker Company

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The J.M. Smucker Company, also known as Smuckers, is an American manufacturer of food and beverage products. Headquartered in Orrville, Ohio,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> the company was founded in 1897 as a maker of apple butter.<ref name="company-history" /> J.M. Smucker currently has three major business units: consumer foods, pet foods, and coffee.<ref name="NEWS-publicis"/> Its flagship brand, Smucker's, produces fruit preserves, peanut butter, syrups, frozen crustless sandwiches, and ice cream toppings.<ref name="consuemrsatsmucker"/>

Among J.M. Smucker's other food and coffee brands are Bick's Pickle, Café Bustelo, Carnation Milk (Canada), Crosse & Blackwell, Dunkin',<ref name="coffeeatsmuckers"/> Five Roses (Canada), Folgers, Golden Temple (Canada), Jif, Knott's Berry Farm, Laura Scudder's, Robin Hood (Canada), Santa Cruz Organic,<ref name="consuemrsatsmucker"/> and Smucker's Uncrustables.<ref name="consuemrsatsmucker"/> Pet food brands include Meow Mix and Milk-Bone, among others.<ref name="petfoodssmuckers"/> In 2023, Smuckers acquired Hostess Brands, the makers of Twinkies, in a $5.6 billion cash and stock deal.<ref name=":0" /> Listed on the New York Stock Exchange (ticker symbol: SJM),<ref name="NEWS1984csmonoitor"/> J.M. Smucker ranks 426th on the Fortune 500, with an estimated 2022 market value of $14.6 billion.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

HistoryEdit

Founding (1897–1958)Edit

The J.M. Smucker Company was founded in 1897 by Jerome Monroe Smucker. Smucker was born on December 5, 1858, in Orrville, Ohio, and much of his life was spent as a farmer in Orrville. In 1897 Smucker built a cider mill in Orrville. The company, which came to produce jellies, jams, and other food items, has stated that he used apples from local Orrville trees planted by Johnny Appleseed in the early nineteenth century.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="company-history">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Smucker prepared apple butter and sold it from the back of a horse-drawn wagon.<ref name="company-history" /><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

File:Smuckers logo.svg

Smucker's brand logo

The company was incorporated in 1921.<ref name="timeline">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> At the time, the company sold preserves and jellies, and by 1928 was distributing in Ohio, Pennsylvania, and Indiana. After the company recorded losses in 1932 and 1933, in 1935 Smucker's eldest son Willard established a Smucker's plant in the state of Washington for pre-processing apples, which were then shipped to Orrville to be cooked. After introducing its trademark glass jar in 1939,<ref name="NEWS1995directory"/> annual sales reached $1 million.<ref name="NEWShistory2020"> {{#invoke:citation/CS1|citation |CitationClass=web }}</ref> In 1940, Smucker's introduced its first line of ice cream toppings, and two years later began distributing its products nationally.<ref name="about2022">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> During World War II, the company faced shortages of labor, glass, and fruit. In 1946, Smucker's earned the designation "U.S. Grade A Fancy" after it paid U.S. Department of Agriculture inspectors to "oversee every aspect of its production."<ref name="NEWS1995directory">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

National expansion and IPO (1959–1984)Edit

The company went public in 1959,<ref name="about2022"/> and the following year J.M. Smucker opened a manufacturing plant in Salinas, California that increased its production capacity by 40%. In 1960, Paul Smucker became president and the company hired Wyse Advertising of Cleveland to produce radio spots. J.M. Smucker was then listed on the New York Stock Exchange (NYSE) in 1965.<ref name="NEWS1995directory"/>

1963 saw J.M. Smucker's acquisition of the jams and jellies company Mary Ellen.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref name="timeline"/> Profits increased between 1959 and 1969 before dropping in 1970. Between 1973 and 1980, J.M. Smucker implemented cost cutting measures to increase profit margins, acquiring manufacturing operations in Oregon, Tennessee and California and consolidating packing operations.<ref name="NEWS1995directory"/> In 1978, J.M. Smucker debuted a low sugar "spread" that was so low in sugar the Food and Drug Administration wouldn't allow Smucker's to market it as a jam.<ref name="NEWS1984csmonoitor"/> J.M. Smucker acquired gourmet preserves company Dickinson's in 1979,<ref name="timeline"/> and by 1980, J.M. Smucker was the number one jams and jellies company in the United States,<ref name="NEWShistory2020"/> with over 25% of the market in the United States.<ref name="NEWS1995directory"/>

In 1981, Timothy Smucker was named president<ref name="NEWS1995directory"/> and the company purchased Magic Shell the following year.<ref name="about2022"/> After purchasing the pickle companies Wooster Preserving Co. and the H.W. Madison Co. in the 1960s,<ref name="NEWS1995directory"/> the company sold its unsuccessful pickle line in the early 1980s. J.M. Smucker in 1984 continued to be traded on the NYSE, with the Smucker family retaining a 30% interest in the business.<ref name="NEWS1984csmonoitor">Template:Cite news</ref> That year J.M. Smucker acquired the juices company Knudsen & Sons.<ref name="timeline"/><ref name="NEWS1995directory"/>

Diversification and growth (1980s–2016)Edit

In the late 1980s, the company began expanding internationally<ref name="NEWS1995directory"/> under CEO Richard Smucker, acquiring brands in Canada, the United States, Australia, and Europe.<ref name="NEW1989thin">Template:Cite news</ref> In 1987 J.M. Smucker purchased R-Line Foods,<ref name="NEWS1995directory"/> and in 1988 the company acquired the Canadian toppings brand Shirriff<ref name="NEW1989thin"/> which made products such as Good Morning Marmalade.<ref name="timeline"/> J.M. Smucker's sales reached $367 million in 1989.<ref name="NEWShistory2020"/> In 1989 J.M. Smucker purchased the Australian company Henry Jones Foods,<ref name="NEWS1995directory"/> later selling it in 2004 to SPC Ardmona.<ref>Template:Cite news</ref> By 1993, 8% of J.M. Smucker's annual sales were international.<ref name="NEWS1995directory"/>

The peanut butter company Laura Scudder's and the juice company After the Fall were purchased in 1994,<ref name="timeline"/> and that year J.M. Smucker also changed advertising agencies from Wyse Advertising to the Leo Burnett Company.<ref name="NEWS1995directory"/> The annual Peanut Butter Festival in the town of New Bethlehem, Pennsylvania is co-sponsored by Smucker's.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> First held in 1996,<ref>Template:Cite news</ref> the festival was held in New Bethlehem because the Smucker's peanut butter factory was the lead employer in the area at the time.<ref>Template:Cite news</ref> In 1998, J.M. Smucker acquired the peanut butter company Adams,<ref name="timeline"/> as well as the maker of the Incredible Uncrustables frozen crustless sandwich, MenUSAver. J.M. Smucker renamed the product Uncrustables.<ref name="about2022"/> J.M. Smucker acquired Jif and Crisco in 2002.<ref name="timeline"/><ref name="NEWShistory2020"/>

By 2004, the company was still headquartered in Orrville, Ohio and had been family-run for four generations. Between 1998 and 2004, the company had appeared on Fortune magazine's annual listing of the 100 Best Companies to Work For in the United States each year, ranking number one in 2004.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> That year the company purchased International Multifoods Corporation.<ref name="about2022"/><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Among the acquired brands in the deal were Pillsbury,<ref name="NEWShistory2020"/> Hungry Jack, Pet, Bick's pickles and condiments,<ref>Template:Cite news</ref> and Canadian flour companies Golden Temple, and Robin Hood. In 2006, White Lily Brand was acquired. <ref name="timeline"/> In 2007, the Canadian flour company Five Roses was acquired. <ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> That same year, the company also acquired King Kelly Orange Marmalade,<ref>Template:Cite news</ref> Eagle Family Foods,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> which brought in the brands Eagle Brand/Borden milk products, None Such mincemeat, and Kava coffee. <ref>Template:Cite news</ref>

In 2008, J.M. Smucker joined the Standard & Poor's 500 Index.<ref name="about2022"/> That May, J.M. Smucker announced it had bought the food division of Knott's Berry Farm<ref>Template:Cite press release</ref> from ConAgra Foods, while Cedar Fair continued to own the theme park itself.<ref>Template:Cite news</ref> That year it also purchased the frozen produce company Europe's Best in Canada and the milk brand Carnation.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> On November 6, 2008, J.M. Smucker purchased the Folgers coffee brand division from Procter & Gamble for $3.3 billion,<ref>Template:Cite news</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref><ref>Template:Cite press release</ref> acquiring brands such as Millstone Coffee in the process.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> The Reverse Morris Trust merger doubled J.M. Smucker's size.<ref name="NEWShistory2020"/>

In 2010, J.M. Smucker acquired Rowland Coffee Roasters,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> makers of Latin coffee brands,<ref>Template:Cite news</ref><ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> followed by the North American coffee and tea operations of Sara Lee in 2011.<ref>Template:Cite press release</ref> J.M. Smucker acquired Big Heart Pet Brands in 2015<ref name="NEWShistory2020"/> for $5.8 billion, bringing in brands such as Milk Bone, Meow Mix, Kibbles ‘n Bits and Pup-Peroni.<ref>Template:Cite news</ref> Also that year, J.M. Smucker announced it would sell its canned milk operations in the United States to Eagle Family Foods Group LLC.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> In February 2015, J.M Smucker and Keurig partnered together on making K-Cup packs of Dunkin' coffee.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Mark Smucker was named CEO in 2016.<ref name="about2022"/>

Recent (2017–present)Edit

File:SmuckerFoodsOfCanada.jpg

Smucker's Canada, Markham, Ontario

After an antitrust lawsuit filed by the Federal Trade Commission (FTC) in early March 2018, ConAgra Brands Inc. and J. M. Smucker Co. cancelled a deal for Smucker to purchase the Wesson cooking oil brand. The FTC claimed that Smuckers would have controlled at least 70% of the market for branded canola and vegetable oils.<ref>Template:Cite news</ref> As part of a strategy to focus on pet food, coffee, and snacking,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> on August 31, 2018, J.M. Smucker announced it had sold its baking business in the United States to Brynwood Partners for $375 million,<ref name="PR2018Divest"/> including the brands Pillsbury,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Martha White, Hungry Jack, White Lily, and Jim Dandy. The baking business in Canada was retained.<ref name="PR2018Divest">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> The company acquired Ainsworth Pet Nutrition in 2018, including the brands Better Than! Treats, Dad's Pet Care, and Rachael Ray Nutrish,<ref>Template:Cite news</ref> and in October 2018, J.M. Smucker consolidated its $580 million marketing business into Publicis Groupe.<ref name="NEWS-publicis">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

During the COVID-19 pandemic many J.M. Smucker employees began remote work.<ref>Template:Cite news</ref> J.M. Smucker began providing "pay and benefits to employees to avoid furloughs," creating employee hardship and sick leave programs.<ref>Template:Cite news</ref> By August 2020, its international and away-from-home segment had seen a quarterly sales decline of 9%. The Smucker's brand had seen a 25% quarterly increase in sales, Uncrustables had seen a 35% jump, and Crisco had seen a 50% increase.<ref>Template:Cite news</ref> In September 2020, the company announced a new logo and corporate brand identity, with aims to distinguish Smucker the company from Smucker's brand food items. J.M. Smucker Company was shortened to J.M. Smucker Co.<ref>Template:Cite news</ref> In December 2020 J.M. Smucker sold Crisco to B&G Foods<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> for $550 million, part of the company's ongoing plan to divest of baking products in the United States.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Overall in 2020, J.M. Smucker had $7.8 billion in net sales, with free cash flow growing 26% from 2019 to $985.5 million.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> Its US retail consumer foods unit saw a 22% jump in annual profits, while coffee rose 11% and pet food rose 6%.<ref>Template:Cite news</ref> After selling Natural Balance Pet Foods to Nexus Capital for $50 million in Jan. 2021,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> in early 2022, the company sold R.W. Knudsen and truRoots to Nexus Capital. The deal included an agreement for Nexus Capital to Santa Cruz Organic beverages, although not the brand's food items. The deal was estimated at $110 million.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> In January 2024, the Knott's Berry Farm grocery brand was discontinued due to low sales.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

Hostess Brands acquisitionEdit

On 11 September 2023, J.M. Smucker announced an acquisition of Hostess Brands for $5.6 billion in cash and stock.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> This will bring several snack brands, including Twinkies, CupCakes, DingDongs, HoHos, Fruit Pies, CoffeeCakes, MiniMuffins, and Voortman cookies, along with seven manufacturing and distribution facilities, and 3,000 employees to J.M. Smucker.<ref name=":0">Template:Cite news</ref> The acquisition was completed in November 2023.<ref>Template:Cite news</ref>

Current brandsEdit

J.M. Smucker's four major business units are consumer foods, pet food, snacks, and coffee.<ref name="NEWS-publicis"/> The company is particularly known as a marketer and manufacturer of products such as fruit spreads, peanut butter, ice cream toppings, sweetened condensed milk, and health and natural foods and beverages.<ref>Template:Cite press release</ref> The Smucker's flagship brand manufactures and sells its own brands of fruit preserves, jelly,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> peanut butter including Smucker's Goober PB&J,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> syrups,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> ice cream toppings including Smucker's Magic Shell,<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> and the Uncrustables sealed crustless sandwich.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> In Canada, the brands are limited to ice cream toppings<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref> and preserves.<ref>{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>

J.M. Smucker brands currently include: Template:Columns-start Foods<ref name="consuemrsatsmucker">{{#invoke:citation/CS1|citation |CitationClass=web }}</ref>