Smucker Selling Private Label Products To JTM Foods
The J.M. Smucker Co. is shedding certain private label products along with two brands as the company continues its “portfolio optimization” efforts.
The private label label products along with its Cloverhill and Big Texas brands generated sales of approximately $30 million in the company’s recent fiscal year. The assets being offloaded by Smucker are being acquired by JTM Foods, LLC.
JTM touts itself as a top producer of handheld snack pies. Headquartered in Erie, Pa., the company has been producing JJ’s Bakery branded, co-manufactured, and private label sweet baked goods that include fruit & cream filled snack pies, mini pies, and crispy rice treats since 1985.
"This divestiture reflects our continued commitment to portfolio optimization to prioritize resources to support the execution of our Sweet Baked Snacks strategy, focused on growing the Hostess brand, and advancing our leadership in the sweet baked goods category," said Dan O'Leary, senior vice president and general manager, Sweet Baked Snacks and Pet at J.M. Smucker. "This decision continues the ongoing work to ensure our manufacturing network is optimized to mitigate costs and reduce complexity."
The deal with JTM is the latest sell off by J.M. Smucker to a company that sells products in the the private label space. In January of 2024, Smucker closed a deal to sell its Bick's pickles, Habitant pickled beets, Woodman's horseradish, and McLarens pickled onions brands to TreeHouse Foods, Inc. The all-cash transaction is valued at approximately $20 million.
