JM Smucker

J.M. Smucker is a packaged food company that primarily operates in the U.S. retail channel (87% of fiscal 2022 revenue), but also in U.S. food service (7%), and international (6%). Its largest segment has been pet food and treats (36% of 2022 revenue); however, this stands to decline to around one fifth of its total base once the sale of several pet food brands and its private-label mix to Post is consummated, leaving popular brands such as Milk-Bone and Meow Mix in its fold. Its second-largest category has been coffee (35% across channels) with the number-two brand Folgers and number-six Dunkin'. Other large categories are peanut butter (10%), with number-one Jif, fruit spreads (5%) with number-one Smucker's, and frozen hand-held foods (6%) with number-one Uncrustables.