J.M. Smucker Co. is selling off non-branded business and reorganizing its distribution system to improve its branded business.
Smucker will focus on its portfolio of jams, peanut butter and ice cream toppings; its strategy is “to own and market leading North American icon brands sold in the center of the store,” Smucker said.
Orrville, OH-based Smucker will sell its industrial bakery ingredients business to Baldwin Richardson Foods Co., Chicago. The deal is expected to close by yearend.
Smucker’s dairy ingredients business will be sold to Sabroso Co., a Medford, OR-based fruit producer and distributor. That deal is expected to close in third-quarter of fiscal 2005.
Smucker will close its Salinas, CA, plant by the end of 2005 and move production to plants in Orrville and Memphis. Smucker also will revamp its distribution system to better serve retailers, but no details have been disclosed.
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