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Share Name | Share Symbol | Market | Type |
---|---|---|---|
JM Smucker Company | NYSE:SJM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.21 | -0.18% | 117.79 | 118.65 | 117.62 | 118.15 | 992,331 | 22:00:00 |
ORRVILLE, Ohio, Nov. 7, 2024 /PRNewswire/ --The J.M. Smucker Co. (NYSE: SJM) today celebrated the opening of its newest manufacturing facility in McCalla, Alabama, which will support production of one of the Company's fastest growing brands, Uncrustables®. Company leadership, including Chair of the Board, President and CEO, Mark Smucker, along with local and state leadership, including Governor Kay Ivey, were in attendance for the grand opening event. The 900,000-square-foot manufacturing facility will increase the Company's current production capacity for its Uncrustables brand to help meet demand for the popular frozen sandwiches.
"The opening of our new facility in McCalla furthers our commitment to invest in our strategy to build leading brands in attractive categories," said Mark Smucker. "We have grown Uncrustables from a $12 million brand to one delivering approximately $800 million in annual net sales last fiscal year. With the new facility now open, we are well positioned to realize our goal of $1 billion in annual net sales by the end of fiscal year 2026. On behalf of our Company, I would like to extend our appreciation to the State of Alabama and Jefferson County officials for their partnership. I would also like to share my thanks to the tremendous team here in McCalla for their hard work to open the facility."
Over the years, the Company has invested in increasing capacity to meet the unprecedented demand for Uncrustables. These efforts have included expanding production from the original manufacturing facility in Scottsville, Kentucky, with the introduction of a second facility in Longmont, Colorado, and subsequent expansions of that facility. In addition, the Company has consistently sought to maximize productivity through process innovation and technological advancements.
"Our Uncrustables brand is one of the fastest growing brands in the food industry thanks to passionate and loyal fans who swear by the unmatched quality and pillowy softness of the fresh-baked bread, the delicious flavor combinations and the ultimate convenience the products offer," said Rebecca Scheidler, Senior Vice President and General Manager, Frozen Handheld and Spreads, The J.M. Smucker Co. "Since the launch of Uncrustables more than two decades ago, we have invested to support the incredible momentum of this business and established a beloved brand that will continue to drive meaningful growth for the long-term. This new facility and our team in McCalla will play a critical role in the next chapter of our story as we drive and nurture this brand to its full potential."
In addition to establishing itself as a leading area employer, the Company is committed to being a leader in the local community. The McCalla team has established relationships with several organizations supporting greater Birmingham residents, including Best Buddies in Alabama, Community Foodbank of Central Alabama, Miracle League of Tuscaloosa, United Way of West Alabama and Lawson State Community College, among others.
The J.M. Smucker Co. Forward Looking Statements
This press release ("Release") includes certain forward-looking statements within the meaning of federal securities laws. The forward-looking statements may include statements concerning our current expectations, estimates, assumptions and beliefs concerning future events, conditions, plans and strategies that are not historical fact. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expect," "anticipate," "believe," "intend," "will," "plan," "strive" and similar phrases. Federal securities laws provide a safe harbor for forward-looking statements to encourage companies to provide prospective information. We are providing this cautionary statement in connection with the safe harbor provisions. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made, when evaluating the information presented in this Release, as such statements are by nature subject to risks, uncertainties and other factors, many of which are outside of our control and could cause actual results to differ materially from such statements and from our historical results and experience. These risks and uncertainties include, but are not limited to, the following: disruptions or inefficiencies in the Company's operations or supply chain, including any impact caused by product recalls, political instability, terrorism, geopolitical conflicts (including the ongoing conflicts between Russia and Ukraine and Israel and Hamas), extreme weather conditions, natural disasters, pandemics, work stoppages or labor shortages, or other calamities; risks related to the availability, and cost inflation in, supply chain inputs, including labor, raw materials, commodities, packaging, and transportation; the impact of food security concerns involving either the Company's products or its competitors' products, including changes in consumer preference, consumer litigation, actions by the U.S. Food and Drug Administration or other agencies, and product recalls; the success and cost of marketing and sales programs and strategies intended to promote growth in the Company's businesses, including product innovation; general competitive activity in the market, including competitors' pricing practices and promotional spending levels; the concentration of certain of the Company's businesses with key customers, and the Company's ability to manage and maintain key relationships; and risks related to other factors described under "Risk Factors" in other reports and statements filed with the Securities and Exchange Commission, including the Company's most recent Annual Report on Form 10-K. We do not undertake any obligation to update or revise these forward-looking statements to reflect new events or circumstances.
About The J.M. Smucker Co.
At The J.M. Smucker Co., it is our privilege to make food people and pets love by offering a diverse family of brands available across North America. We are proud to lead in the coffee, peanut butter, fruit spreads, frozen handheld, sweet baked goods, dog snacks and cat food categories by offering brands consumers trust for themselves and their families each day, including Folgers®, Dunkin'®, Café Bustelo®, Jif®, Uncrustables®, Smucker's®, Hostess®, Voortman®, Milk-Bone® and Meow Mix®. Through our unwavering commitment to producing high quality products, operating responsibly and ethically and delivering on our Purpose, we will continue to grow our business while making a positive impact on society. For more information, please visit jmsmucker.com.
The J. M. Smucker Co. is the owner of all trademarks referenced herein, except for Dunkin'®, which is a trademark of DD IP Holder LLC. The Dunkin'® brand is licensed to The J.M. Smucker Co. for packaged coffee products sold in retail channels, such as grocery stores, mass merchandisers, club stores, e-commerce and drug stores, as well as in certain away from home channels. This information does not pertain to products for sale in Dunkin'® restaurants.
View original content to download multimedia:https://www.prnewswire.com/news-releases/the-jm-smucker-co-celebrates-opening-of-the-newest-uncrustables-manufacturing-facility-in-mccalla-alabama-302299372.html
SOURCE The J.M. Smucker Co.
Copyright 2024 PR Newswire
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