The J. M. Smucker Company, established in 1897, operates primarily in the manufacturing and marketing of branded food and beverage products on a worldwide basis, with the majority of sales in the United States. The company's portfolio includes trusted, iconic, market-leading brands sold primarily through retail outlets in North America. Key segments include U.S. Retail Coffee, U.S. Retail Frozen Handheld and Spreads, U.S. Retail Pet Foods, and Sweet Baked Snacks. The company also sells products through retail channels and foodservice distributors and operators both domestically and in foreign countries. A significant portion of the company's strategic focus is the sale of branded food and beverage products with leadership positions to consumers through retail outlets in North America.

• Employees: Approximately 9,000 full-time employees worldwide
• Geographic Footprint: Primarily in the U.S. and Canada, with exports to other countries
• Headquarters: Orrville, Ohio
• Founded: 1897
• Number of locations/facilities: Manufacturing and processing facilities listed in the 10-K
• Revenue: $8.18 billion (FY2024)
• Key Subsidiaries/Brands: Folgers, Dunkin', Café Bustelo, Jif, Smucker's, Uncrustables, Hostess, Voortman, Milk-Bone, Meow Mix

• CEO: Mark Smucker (since August 2022)
• CFO: Tucker Marshall (since May 2020)
• Chief Operating Officer: John Brase (since April 2020)
• Chief Legal Officer and Secretary: Jeannette Knudsen (since September 2022)
• Chief People and Corporate Services Officer: Jill Penrose (since March 2023)
• Board Chair: Mark Smucker

Key executives have significant experience in the food and consumer goods industries. The CEO, Mark Smucker, has been with the company for 26 years and previously served as President and CEO since May 2016. The CFO, Tucker Marshall, has been with the company for 12 years and previously served as Senior Vice President and Deputy Chief Financial Officer.

• Annual Revenue: $8.18 billion (FY2024)
• Net Income: $744.0 million (FY2024)
• Total Assets: $20.3 billion (as of April 30, 2024)
• Number of Employees: Approximately 9,000 full-time employees worldwide
• Key Financial Highlights: Net sales decreased by 4% in 2024, primarily due to divestitures, partially offset by the acquisition of Hostess Brands. Gross profit increased by 11% in 2024. Operating income increased significantly in 2024 due to a decrease in divestiture costs.

The company's principal products include:

• Coffee: Mainstream roast and ground coffee, single-serve coffee K-Cups, and premium coffee
• Pet Foods: Mainstream cat food, pet snacks, and dry dog and cat food
• Frozen Handheld and Spreads: Peanut butter and specialty spreads, fruit spreads, and frozen sandwiches and snacks
• Sweet Baked Snacks: Sweet baked goods and cookies

The company operates through four reportable segments:

• U.S. Retail Coffee: Includes domestic sales of Folgers, Dunkin', and Café Bustelo branded coffee.
• U.S. Retail Frozen Handheld and Spreads: Includes domestic sales of Smucker's and Jif branded products.
• U.S. Retail Pet Foods: Includes domestic sales of Meow Mix, Milk-Bone, Pup-Peroni, and Canine Carry Outs branded products.
• Sweet Baked Snacks: Includes all domestic and foreign sales of Hostess and Voortman branded products in all channels.
• International and Away From Home: Includes the sale of all products that are distributed in foreign countries through retail channels, as well as domestically and in foreign countries through foodservice distributors and operators.

These segments in total comprised 85% of consolidated net sales in 2024.

The company's strategic vision is to engage, delight, and inspire consumers by building brands they love and leading in growing categories. Key strategic priorities include:

• Driving prioritization and best-in-class execution
• Improving profitability and cost discipline
• Transforming our portfolio
• Nurturing and investing in our culture
• Improving diversity and fostering inclusion and equity

The company aims to achieve net sales growth by a low single-digit percentage and operating income growth by a mid-single-digit percentage on average over the long term. The company is focused on organic growth, including new products, and acquisitions. A significant focus is on debt repayment.

The company operates in the competitive food industry. The company is the branded market leader in the coffee, dog snacks, peanut butter, frozen snacks and sandwiches, and fruit spreads categories in the U.S. In Canada, the company is the branded market leader in the flour, fruit spreads, canned milk, and ice cream toppings categories. The company competes with other branded products as well as private label products. The company emphasizes brand recognition, product quality, price, packaging, new product introductions, nutritional value, convenience, advertising, and promotion to maintain a competitive position. Private label brands are also a significant competitor.

• Macroeconomic Risks: Deterioration of national and global macroeconomic conditions, economic recession, inflation, and economic uncertainty may adversely affect consumer spending and demand.
• Acquisition and Divestiture Risks: The company may not realize all the anticipated benefits of acquisitions, such as the Hostess Brands acquisition, and may encounter difficulties in integrating acquired businesses. Divestitures may also negatively impact the business.
• Supply Chain Risks: Loss or interruption of supply from primary or single-source suppliers of raw materials and finished goods could have a disruptive effect on the business.
• Competition and Consumer Preference Risks: The company faces strong competition from branded and private label products, and failure to effectively compete or changes in consumer preferences could adversely affect the business.
• Financial Risks: Increased cost, limited availability, and/or insufficient quality of raw materials, including commodities and agricultural products, could negatively impact the business.