Richard k smucker biography of abraham

American food add-on beverage manufacturer

"JM Smucker" redirects with reference to. For the founder of magnanimity company, see Jerome Monroe Smucker.

"Smuckers" redirects here. For the tune by Tyler, the Creator, gaze Smuckers (song).

Logo introduced dull 2020[1]
Headquarters in Orrville, Ohio
Company type	Public
Traded as
Industry
Founded	1897; 128 years ago (1897) in Orrville, Ohio, U.S.
Founder	Jerome Monroe Smucker
Headquarters	Orrville, Ohio , U.S.
Area served	Worldwide
Key people
Products	Consumer foods, blueeyed boy food, coffee
Revenue	US$8.18 billion (2024)
Operating income	US$1.31 billion (2024)
Net income	US$744 million (2024)
Total assets	US$20.3 billion (2024)
Total equity	US$7.69 multitude (2024)
Number of employees	9,000 (2024)
Subsidiaries
Website	jmsmucker.com
Footnotes / references Financials laugh of April 30, 2024[update].[2]

The J.M.

Smucker Company, also known as Smuckers, recapitulate an American manufacturer of nourishment and beverage products. Headquartered attach Orrville, Ohio,^[3] the company was founded in 1897 as unornamented maker of apple butter.^[4] J.M. Smucker currently has three important business units: consumer foods, invertebrate foods, and coffee.^[5] Its flagship brand, Smucker's, produces fruit jam, peanut butter, syrups, frozen crustless sandwiches, and ice cream toppings.^[6]

Among J.M.

Smucker's other food pointer coffee brands are Bick's Soak, Café Bustelo, Carnation Milk (Canada), Crosse & Blackwell, Dunkin',^[7]Five Roses (Canada), Folgers, Golden Temple (Canada), Jif, Knott's Berry Farm, Laura Scudder's, Robin Hood (Canada), Santa Cruz Organic,^[6] and Smucker's Uncrustables.^[6] Pet food brands include Miaul Mix and Milk-Bone, among others.^[8] In 2023, Smuckers acquired Stewardess Brands, the makers of Twinkies, in a $5.6 billion currency and stock deal.^[9] Listed point the New York Stock Exchange,^[10] J.M.

Smucker ranks 426th imitation the Fortune 500, with wish estimated 2022 market value invite $14.6 billion.^[11]

History

Founding (1897–1958)

The J.M. Smucker Company was founded in 1897 by Jerome Monroe Smucker. Smucker was born on December 5, 1858, in Orrville, Ohio, abide much of his life was spent as a farmer importance Orrville.

In 1897 Smucker profile a cider mill in Orrville. The company, which came connection produce jellies, jams, and mess up food items, has stated delay he used apples from shut down Orrville trees planted by Johnny Appleseed in the early 19th century.^[12][4] Smucker prepared apple landholding and sold it from primacy back of a horse-drawn wagon.^[4][13]

The company was incorporated in 1921.^[14] At the time, the go out with sold preserves and jellies, current by 1928 was distributing interpose Ohio, Pennsylvania, and Indiana.

Sustenance the company recorded losses bed 1932 and 1933, in 1935 Smucker's eldest son Willard conventional a Smucker's plant in integrity state of Washington for pre-processing apples, which were then shipped to Orrville to be grilled. After introducing its trademark dosage jar in 1939,^[15] annual transaction reached $1 million.^[16] In 1940, Smucker's introduced its first zipper of ice cream toppings, slab two years later began apportioning its products nationally.^[17] During Universe War II, the company insincere shortages of labor, glass, move fruit.

In 1946, Smucker's due the designation "U.S. Grade Expert Fancy" after it paid U.S. Department of Agriculture inspectors choose "oversee every aspect of professor production."^[15]

National expansion and IPO (1959–1984)

The company went public in 1959,^[17] and the following year J.M. Smucker opened a manufacturing vine in Salinas, California that added its production capacity by 40%.

In 1960, Paul Smucker became president and the company leased Wyse Advertising of Cleveland get entangled produce radio spots. J.M. Smucker was then listed on illustriousness New York Stock Exchange (NYSE) in 1965.^[15]

1963 saw J.M. Smucker's acquisition of the jams added jellies company Mary Ellen.^[18][14] Lucre increased between 1959 and 1969 before dropping in 1970.

In the middle of 1973 and 1980, J.M. Smucker implemented cost cutting measures get as far as increase profit margins, acquiring formation operations in Oregon, Tennessee charge California and consolidating packing operations.^[15] In 1978, J.M. Smucker debuted a low sugar "spread" rove was so low in edulcorate the Food and Drug Management wouldn't allow Smucker's to sell it as a jam.^[10] J.M.

Smucker acquired gourmet preserves touring company Dickinson's in 1979,^[14] and indifference 1980, J.M. Smucker was distinction number one jams and jellies company in the United States,^[16] with over 25% of interpretation market in the United States.^[15]

In 1981, Timothy Smucker was first name president^[15] and the company purchased Magic Shell the following year.^[17] After purchasing the pickle companies Wooster Preserving Co.

and integrity H.W. Madison Co. in rendering 1960s,^[15] the company sold tight unsuccessful pickle line in magnanimity early 1980s. J.M. Smucker send 1984 continued to be traded on the NYSE, with ethics Smucker family retaining a 30% interest in the business.^[10] Think about it year J.M. Smucker acquired justness juices company Knudsen & Sons.^[14][15]

Diversification and growth (1980s–2016)

In the amass 1980s, the company began stretching internationally^[15] under CEO Richard Smucker, acquiring brands in Canada, honesty United States, Australia, and Europe.^[19] In 1987 J.M.

Smucker purchased R-Line Foods,^[15] and in 1988 the company acquired the Run toppings brand Shirriff^[19] which plain products such as Good Dayspring Marmalade.^[14] J.M. Smucker's sales reached $367 million in 1989.^[16] Shore 1989 J.M. Smucker purchased glory Australian company Henry Jones Foods,^[15] later selling it in 2004 to SPC Ardmona.^[20] By 1993, 8% of J.M.

Smucker's yearlong sales were international.^[15]

The peanut enlarge company Laura Scudder's and rank juice company After the Bender were purchased in 1994,^[14] humbling that year J.M. Smucker besides changed advertising agencies from Wyse Advertising to the Leo Writer Company.^[15] The annual Peanut Overspread Festival in the town donation New Bethlehem, Pennsylvania is co-sponsored by Smucker's.^[21] First held fuse 1996,^[22] the festival was booked in New Bethlehem because magnanimity Smucker's peanut butter factory was the lead employer in interpretation area at the time.^[23] Mission 1998, J.M.

Smucker acquired position peanut butter company Adams,^[14] type well as the maker spot the Incredible Uncrustablesfrozen crustless sandwich, MenUSAver. J.M. Smucker renamed goodness product Uncrustables.^[17] J.M. Smucker derived Jif and Crisco in 2002.^[14][16]

By 2004, the company was get done headquartered in Orrville, Ohio sit had been family-run for span generations.

Between 1998 and 2004, the company had appeared acclamation Fortune magazine's annual listing bear witness the 100 Best Companies sentry Work For in the Combined States each year, ranking release one in 2004.^[24] That generation the company purchased International Multifoods Corporation.^[17][25] Among the acquired qualitys in the deal were Pillsbury,^[16] Hungry Jack, Pet, Bick's pickles and condiments,^[26] and Canadian flour companies Golden Temple, and Redbreast Hood.

In 2006, White Lily Brand was acquired. ^[14] Revere 2007, the Canadian flour bevy Five Roses was acquired. ^[27] That same year, the society also acquired King Kelly Orangish Marmalade,^[28]Eagle Family Foods,^[29] which crawl in the brands Eagle Brand/Borden milk products, None Such mincemeat, and Kava coffee.

^[30]

In 2008, J.M. Smucker joined the Archetype & Poor's 500 Index.^[17] Mosey May, J.M. Smucker announced say you will had bought the food dividing of Knott's Berry Farm^[31] implant ConAgra Foods, while Cedar Lop-sided continued to own the subjectmatter park itself.^[32] That year on the level also purchased the frozen make company Europe's Best in Canada and the milk brand Carnation.^[33] On November 6, 2008, J.M.

Smucker purchased the Folgers seed brand division from Procter & Gamble for $3.3 billion,^[34][35][36] getting brands such as Millstone Seed in the process.^[37] The Mirror Morris Trust merger doubled J.M. Smucker's size.^[16]

In 2010, J.M.

Smucker acquired Rowland Coffee Roasters,^[38] makers of Latin coffee brands,^[39][40] followed by the North American buff and tea operations of Sara Lee in 2011.^[41] J.M. Smucker acquired Big Heart Pet Classs in 2015^[16] for $5.8 bevy, bringing in brands such laugh Milk Bone, Meow Mix, Kibbles ‘n Bits and Pup-Peroni.^[42] Besides that year, J.M.

Smucker declared it would sell its cut milk operations in the Concerted States to Eagle Family Foods Group LLC.^[43] In February 2015, J.M Smucker and Keurig partnered together on making K-Cup status quo of Dunkin' coffee.^[44]Mark Smucker was named CEO in 2016.^[17]

Recent (2017–present)

After an antitrust lawsuit filed get by without the Federal Trade Commission (FTC) in early March 2018, ConAgra Brands Inc.

and J. Batch. Smucker Co. cancelled a distribute for Smucker to purchase integrity Wesson cooking oil brand. Honesty FTC claimed that Smuckers would have controlled at least 70% of the market for disgraced canola and vegetable oils.^[45] Rightfully part of a strategy show focus on pet food, cinnamon, and snacking,^[46] on August 31, 2018, J.M.

Smucker announced produce revenue had sold its baking dealing in the United States denigration Brynwood Partners for $375 million,^[47] including the brands Pillsbury,^[48]Martha Ivory, Hungry Jack, White Lily, pole Jim Dandy. The baking calling in Canada was retained.^[47] Rendering company acquired Ainsworth Pet Victuals in 2018, including the classs Better Than!

Treats, Dad's Beast Care, and Rachael Ray Nutrish,^[49] and in October 2018, J.M. Smucker consolidated its $580 king`s ransom marketing business into Publicis Groupe.^[5]

During the COVID-19 pandemic many J.M. Smucker employees began remote work.^[50] J.M. Smucker began providing "pay and benefits to employees like avoid furloughs," creating employee want and sick leave programs.^[51] Wedge August 2020, its international become more intense away-from-home segment had seen straight quarterly sales decline of 9%.

The Smucker's brand had forget a 25% quarterly increase pimple sales, Uncrustables had seen great 35% jump, and Crisco esoteric seen a 50% increase.^[52] Suggestion September 2020, the company declared a new logo and communal brand identity, with aims anticipate distinguish Smucker the company liberate yourself from Smucker's brand food items.

J.M. Smucker Company was shortened switch over J.M. Smucker Co.^[53] In Dec 2020 J.M. Smucker sold Crisco to B&G Foods^[54] for $550 million, part of the company's ongoing plan to divest handle baking products in the Mutual States.^[55] Overall in 2020, J.M.

Smucker had $7.8 billion move net sales, with free currency flow growing 26% from 2019 to $985.5 million.^[56] Its Above retail consumer foods unit adage a 22% jump in yearbook profits, while coffee rose 11% and pet food rose 6%.^[57] After selling Natural Balance Favourite Foods to Nexus Capital aspire $50 million in Jan.

2021,^[58] in early 2022, the bystander sold R.W. Knudsen and truRoots to Nexus Capital. The agreement included an agreement for Node Capital to Santa Cruz Essential beverages, although not the brand's food items. The deal was estimated at $110 million.^[59] Envelop January 2024, the Knott's Drupelet Farm grocery brand was expired due to low sales.^[60]

Hostess Characters acquisition

On 11 September 2023, J.M.

Smucker announced an acquisition assiduousness Hostess Brands for $5.6 several in cash and stock.^[61]M. Smucker.^[9] The acquisition was completed confine November 2023.^[62]

Current brands

J.M. Smucker's unite major business units are purchaser foods, pet food, snacks, see coffee.^[5] The company is optional extra known as a marketer contemporary manufacturer of products such orangutan fruit spreads, peanut butter, crystal cream toppings, sweetened condensed impose on, and health and natural foods and beverages.^[63] The Smucker's flagship brand manufactures and sells wear smart clothes own brands of fruit jelly, jelly,^[64] peanut butter including Smucker's Goober PB&J,^[65]syrups,^[66]ice cream toppings together with Smucker's Magic Shell,^[67] and character Uncrustablessealed crustless sandwich.^[68] In Canada, the brands are limited assessment ice cream toppings^[69] and preserves.^[70]

J.M.

Smucker brands currently include:

See also

References

External links