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, and much of his life was spent as a farmer in Orrville. In 1897 Smucker built a cider mill in Orrville. The company, which came to produce jellies, jams, and other food items, has stated that he used apples from local Orrville trees planted by Johnny Appleseed in the early nineteenth century.[5][6] Smucker prepared apple butter and sold it from the back of a horse-drawn wagon.[6][7]
The company was incorporated in 1921.[8] At the time, the company sold preserves and jellies, and by 1928 was distributing in Ohio, Pennsylvania, and Indiana. After the company recorded losses in 1932 and 1933, in 1935 Smucker's eldest son Willard established a Smucker's plant in the state of Washington for pre-processing apples, which were then shipped to Orrville to be cooked. After introducing its trademark glass jar in 1939, annual sales reached $1 million.[9] In 1940, Smucker's introduced its first line of ice cream toppings, and two years later began distributing its products nationally.[10] During World War II, the company faced shortages of labor, glass, and fruit. In 1946, Smucker's earned the designation "U.S. Grade A Fancy" after it paid U.S. Department of Agriculture inspectors to "oversee every aspect of its production."[11]
National expansion and IPO (1959–1984)
The company went public in 1959,[10] and the following year J.M. Smucker opened a manufacturing plant in Salinas, California that increased its production capacity by 40%. In 1960, Paul Smucker became president and the company hired Wyse Advertising of Cleveland to produce radio spots. J.M. Smucker was then listed on the New York Stock Exchange (NYSE) in 1965.[11]
1963 saw J.M. Smucker's acquisition of the jams and jellies company Mary Ellen.[12][8] Profits increased between 1959 and 1969 before dropping in 1970. Between 1973 and 1980, J.M. Smucker implemented cost cutting measures to increase profit margins, acquiring manufacturing operations in Oregon, Tennessee and California and consolidating packing operations.[11] In 1978, J.M. Smucker debuted a low sugar "spread" that was so low in sugar the
Diversification and growth (1980s–2016)
In the late 1980s, the company began expanding internationally[11] under CEO Richard Smucker, acquiring brands in Canada, the United States, Australia, and Europe.[14] In 1987 J.M. Smucker purchased R-Line Foods,[11] and in 1988 the company acquired the Canadian toppings brand Shirriff[14] which made products such as Good Morning Marmalade.[8] J.M. Smucker's sales reached $367 million in 1989.[9] In 1989 J.M. Smucker purchased the Australian company Henry Jones Foods,[11]
Recent (2017–present)
After an antitrust lawsuit filed by the Federal Trade Commission (FTC) in early March 2018, ConAgra Brands Inc. and J. M. Smucker Co. cancelled a deal for Smucker to purchase the Wesson cooking oil brand. The FTC claimed that Smuckers would have controlled at least 70% of the market for branded canola and vegetable oils.[40] As part of a strategy to focus on pet food, coffee, and snacking,[41] on August 31, 2018, J.M. Smucker announced it had sold its baking business in the United States to Brynwood Partners for $375 million, including the brands Pillsbury,[42] Martha White, Hungry Jack, White Lily, and Jim Dandy. The baking business in Canada was retained.[43] The company acquired Ainsworth Pet Nutrition in 2018, including the brands Better Than! Treats, Dad's Pet Care, and Rachael Ray Nutrish
Hostess Brands acquisition
On 11 September 2023, J.M. Smucker announced an acquisition of Hostess Brands for $5.6 billion in cash and stock.[57] This will bring several snack brands, including Twinkies, CupCakes, DingDongs, HoHos, Fruit Pies, CoffeeCakes, MiniMuffins, and Voortman cookies, along with seven manufacturing and distribution facilities, and 3,000 employees to J.M. Smucker.[58] The acquisition was completed in November 2023.[59]
