The J.M. Smucker Company Acquires Minority Interest In Guilin Seamild Biologic Technology Development Co., Ltd.

The J.M. Smucker Company announced that it has acquired a non-controlling minority interest in Guilin Seamild Biologic Technology Development Co., Ltd., a privately owned manufacturer and marketer of oats products headquartered in Guilin in the Guangxi province of China, for approximately $35 million. Seamild's product portfolio, primarily consisting of oatmeal sold under the Seamild brand, is distributed in retail channels throughout China. Seamild operates two manufacturing facilities, both located in southern China. A third facility, currently under construction in northern China, is expected to begin production in late summer 2012. Smucker will account for this investment under the equity method of accounting.