Profile: The J.M. Smucker Company (SJM)

The J. M. Smucker Company, incorporated in 1921, is engaged in the manufacturing and marketing of branded food products on a worldwide basis. Majority of the Company’s sales are in the United States. The Company’s operations outside the United States are principally in Canada, although products are exported to other countries as well. The J.M. Smucker Company operates in four segments: U.S. retail consumer market, U.S. retail oils and baking market, U.S. retail coffee market, and special markets. The J. M. Smucker Company’s three U.S. retail market segments in total comprised nearly 80 % of the Company’s net sales during the fiscal year ended April 30, 2009 (fiscal 2009). The special markets segment represents sales outside of the U.S. retail markets and includes the Company’s Canada, foodservice, natural foods (formerly beverage), and international businesses. Sales to Wal-Mart Stores, Inc., and its subsidiaries amounted to approximately 24 % of the Company’s net sales during fiscal 2009.

The principal products of the Company, which are sold across the Company’s U.S. retail market segments and special markets segment, are coffee, peanut butter, shortening and oils, fruit spreads, canned milk, baking mixes and ready-to-spread frostings, flour and baking ingredients, juices and beverages, frozen sandwiches, dessert toppings, syrups, pickles and condiments, and potato side dishes. In each of the U.S. retail market segments, the Company’s products are primarily sold through a combination of direct sales and through brokers to food retailers, food wholesalers, drug stores, club stores, mass merchandisers, discount and dollar stores, and military commissaries. In the special markets segment, its products are distributed domestically and in foreign countries through retail channels, foodservice distributors and operators (restaurants, schools and universities, healthcare operators), health and natural foods stores and distributors.

The Company competes with Crisco.