Smucker to divest some of Multifoods.(International Multifoods' U.S.)(Brief Article)

Food Institute Report, The, August, 2004

The J. M. Smucker Company intends to divest International Multifoods' U.S. foodservice and bakery products division because it does not fit in with the company's foodservice strategy. Smucker's acquisition of Multifoods added an array of brands that complimented Smucker's existing brands. Smucker's strategy is to own and market leading North American icon brands sold in the center of the store.

For Multifoods' 2004 fiscal year ended Feb. 28, the Foodservice Products Segment had net sales of $202.5 million. These products are manufactured in eight North American facilities.