J M Smucker Co (SJM.N)
22 Jun 2018
J.M. Smucker Co on Thursday forecast full-year profit well below estimates as the Folgers coffee maker spends heavily on marketing to battle competition while struggling with high costs, sending its shares down as much as 10 percent.
* Shares down as much as 10 pct (Adds analyst, CFO comments, details; updates share movement)
June 7 J.M. Smucker Co's fourth-quarter sales missed analysts' forecasts, hurt by weak demand for its edible oil brands such as Crisco, peanut butter and baking items.
* THE J. M. SMUCKER COMPANY COMPLETES ACQUISITION OF AINSWORTH PET NUTRITION, LLC, MAKER OF RACHAEL RAY™ NUTRISH® PET FOOD Source text for Eikon: Further company coverage:
BRIEF-J M Smucker Enters Into Certain Term Loan Credit Agreement Providing For A $1.5 Bln Term Facility
* ENTERED INTO CERTAIN TERM LOAN CREDIT AGREEMENT PROVIDING FOR A $1.5 BILLION TERM FACILITY Source text for Eikon: (http://bit.ly/2KqKpWC) Further company coverage:
* THE J.M. SMUCKER COMPANY ANNOUNCES LEADERSHIP CHANGES IN PET BUSINESS
J. M. Smucker Co said on Wednesday it would buy Rachael Ray Dog food maker Ainsworth Pet Nutrition for about $1.9 billion in cash to strengthen its pet food portfolio, and was exploring options for its U.S. baking business, including a sale.
* Deal valued at $1.9 bln, excluding tax benefit of about $200 mln
April 4 J. M. Smucker Co on Wednesday said it would acquire pet food and pet snacks maker Ainsworth Pet Nutrition for about $1.9 billion.
* THE J. M. SMUCKER COMPANY TO ACQUIRE AINSWORTH PET NUTRITION, LLC, MAKER OF RACHAEL RAY™ NUTRISH® PET FOOD; COMPANY TO EXPLORE STRATEGIC OPTIONS FOR U.S. BAKING BUSINESS