Vending

JM Smucker to divest organic beverages and grains, will close Wisconsin facility

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December 17, 2021

The J.M. Smucker Co. has agreed to sell its natural and organic beverages and grains businesses to Nexus Capital Management LP in a cash transaction valued at approximately $110 million, according to a press release. The sale includes R.W. Knudsen and TruRoots assets and trademarks, and a licensing agreement for Santa Cruz Organic beverages.

The transaction also includes the company's manufacturing and distribution facilities in Chico, California and Havre de Grace, Maryland. It does not include Santa Cruz Organic nut butters, fruit spreads, syrups or applesauce.

Collectively, the natural beverages and grains businesses generated net sales of approximately $140 million for the company's fiscal year ended April 30, 2021, which were primarily reported in its U.S. retail consumer foods segment.

In a related decision, to further optimize operations for the consumer foods business, the company plans to close and pursue the sale of its Ripon, Wisconsin production facility in calendar year 2022 and consolidate production at its Orrville, Ohio facility.