JM Smucker to divest cookie brand Voortman in $305 million deal [Yahoo! Finance Canada]
The J.M. Smucker Company (SJM)
Last the j.m. smucker company earnings: 2/26 07:00 am
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jmsmucker.com/investor-relations
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Source: Yahoo! Finance Canada
The transaction includes all Voortman trademarks and J.M. Smucker's leased manufacturing facility in Ontario, Canada, the company said, adding that about 300 employees would transition with the business. Shares of the company were down about 2% in the morning trade amid broader market declines. The Dunkin' coffee maker said it expects the divestiture would be dilutive to the company's adjusted earnings per share by about 25 cents on a full-year basis. The company expects to use net proceeds from the transaction to pay down debt. The deal, expected to close in the third quarter of the fiscal year ending April 30, would contribute a full-year earnings per share of about 10 cents to Smucker. Packaged food companies have been shedding their underperforming units to sharpen their focus on stronger brands as they respond to consumers switching to cheaper alternative to higher-margin brands. "The divestiture ... will enable the execution of our Sweet Baked Snacks strategy through
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News
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- SJM's Q2 Earnings on the Horizon: Is a Beat Expected for the Stock? [Yahoo! Finance]Yahoo! Finance
- Will Smucker (SJM) Beat Estimates Again in Its Next Earnings Report? [Yahoo! Finance]Yahoo! Finance
- Three Reasons Why SJM is Risky and One Stock to Buy Instead [Yahoo! Finance]Yahoo! Finance
- Running on Ice: Ultra-low temps become ultra-cool [Yahoo! Finance]Yahoo! Finance
SJM
Earnings
- 8/28/24 - Beat
SJM
Sec Filings
- 11/8/24 - Form SC
- 10/22/24 - Form SC
- 10/3/24 - Form 4
- SJM's page on the SEC website