ADVFN - Advanced Financial Network.
HOME» NYSE » S » SJM Stock Price » SJM Stock News

Smuckers J M Share News

 Smucker (j.m.) Co. Stock Price
SJM Stock Price
 Smucker (j.m.) Co. Stock Chart
SJM Stock Chart
 Smucker (j.m.) Co. Stock News
SJM Stock News
 Smucker (j.m.) Co. Company Information
SJM Company Information
 Smucker (j.m.) Co. Stock Trades
SJM Stock Trades

Smucker Pays $360 Million To Acquire Rowland's Coffee Operations

DOW JONES NEWSWIRES J.M. Smucker Co. (SJM) said it completed a $360 million acquisition of the coffee brands and business operations of Rowland Coffee Roasters Inc., a deal the food maker said will strengthen its position in the U.S. retail space. The acquisition will add to Smucker's U.S. retail coffee segment, which is already the company's largest business by revenue. Smucker, which sells the Folgers and Kava coffee brands, will add Rowland's Hispanic Cafe Bustelo and Cafe Pilon brands to its lineup. Smucker reported an 11% increase in U.S. retail coffee sales for the nine months ended Jan. 31, while profit during that period grew 12%. But the commodity is being stung by higher future prices due to strong demand in emerging markets, disappointing harvests and speculative trading. Those factors have lead retailers to increase prices to pass along some of the cost to consumers. The Rowland acquisition includes a manufacturing, distribution and office facility in Miami. Privately held Rowland generated more than $110 million in sales last year. Smucker, which makes jams, jellies and Jif peanut butter, said the deal would be financed with cash on hand and borrowings under its existing credit facility. The transaction is expected to add about 5 cents a share to fiscal 2012 earnings, excluding one-time costs. The company intends to leverage its existing infrastructure to expand distribution and marketing support of the new brands. Manufacturing operations are expected to be consolidated into the company's existing sites in about three years. That move should result in additional cost savings of about 10 cents a share in the first full year after the consolidation is complete. Smucker said one-time costs are estimated to total $25 million to $30 million, with about $10 million expected to be recorded in fiscal 2012. Smucker's shares closed down 0.3% to $75.22 and were inactive after hours. The stock is up 15% this year. -By John Kell, Dow Jones Newswires; 212-416-2480; [email protected]

Stock News for Smuckers J M (SJM)
03/10/201714:40:49Amended Statement of Ownership (sc 13g/a)
03/08/201717:17:15Statement of Changes in Beneficial Ownership (4)
02/24/201709:05:16Quarterly Report (10-q)
02/22/201709:01:25Current Report Filing (8-k)
02/17/201706:59:42Current Report Filing (8-k)
02/17/201706:30:00The J. M. Smucker Company Announces Fiscal 2017 Third Quarter...
02/10/201708:39:52Amended Statement of Ownership (sc 13g/a)
01/31/201707:15:00The J. M. Smucker Company Announces Plans to Build Additional...
01/27/201717:01:54Statement of Changes in Beneficial Ownership (4)
01/26/201717:00:00The J. M. Smucker Company Announces Webcasts of its Third Quarter...
01/25/201714:48:25Amended Statement of Ownership (sc 13g/a)
01/20/201717:15:00The J. M. Smucker Company Declares Dividend
01/11/201708:00:00The J. M. Smucker Company Announces Coffee Price Increases
01/03/201717:07:16Statement of Changes in Beneficial Ownership (4)
01/03/201717:07:00Statement of Changes in Beneficial Ownership (4)
11/22/201616:16:22Quarterly Report (10-q)
11/17/201609:45:00U.S. Hot Stocks: Hot Stocks to Watch
11/17/201609:40:00J.M. Smucker Revenue Declines
11/17/201607:16:29Current Report Filing (8-k)
11/17/201607:00:00The J. M. Smucker Company Announces Fiscal 2017 Second Quarter...

Smuckers J M and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations