The J.M. Smucker Co. Divests Private Label Dry Pet Food Business as Part of Continued Portfolio Optimization [MarketWatch]
The J.M. Smucker Company (SJM)
Last the j.m. smucker company earnings: 2/26 07:00 am
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Source: MarketWatch
Smucker Co. (NYSE: SJM) announced today it has sold its private label dry pet food business, including its manufacturing facility in Frontenac, Kansas, to Diamond Pet Foods, Inc., in a cash transaction valued at approximately $33 million. "This divestiture enables us to focus investments and resources on areas of our pet food and pet snacks business positioned for growth and profitability, including driving category growth in dog snacks, building upon our momentum in cat food—particularly with Meow Mix ® , and stabilizing Nutrish ® dog food by growing consumer demand," said Rob Ferguson, Sr. Vice President and General Manager, Pet Food and Pet Snacks, The J.M. Smucker Co. The transaction does not include any branded products or the Company's private label wet pet food business. The divested business generated net sales of approximately $95 million for the fiscal year ended April 30, 2021. The divestiture is immaterial to the Company's adjusted earnings per share on a full-year bas
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SJM
News
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- Institutional owners may take dramatic actions as The J. M. Smucker Company's (NYSE:SJM) recent 5.0% drop adds to one-year losses [Yahoo! Finance]Yahoo! Finance
- Pet Food Market To Reach USD 170.6 Billion By 2032, Report By DataHorizzon Research [Yahoo! Finance]Yahoo! Finance
SJM
Earnings
- 2/27/24 - Beat
SJM
Sec Filings
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- 3/28/24 - Form 4
- SJM's page on the SEC website