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J.M. Smucker Announces Australian Acquisition

ORRVILLE, Ohio, June 4 /PRNewswire/ -- The J.M. Smucker Company (NYSE: SJM.A SJM.B), Orrville, Ohio, announced today that its Australian subsidiary, Henry Jones Foods Pty. Ltd., has completed the acquisition of the fruit spreads and industrial ingredients businesses of Silvan Foods, a division of National Foods Juice Limited of Melbourne, Australia. The acquired businesses have combined sales of just under AUS $10 million.

According to the Company, the acquisition included license rights to the Allowrie jam brand, the fourth largest brand of jams in Australia. It also included the Lackersteens brand, an old and respected brand of marmalades in Australia, and the license in Australia for the use of the Weight Watchers brand on fruit spreads.

Henry Jones Foods currently markets a full range of jams in Australia under IXL, which is one of Australia's oldest and best known brands. With the acquisition, Henry Jones Foods enhances its position as one of the leading producers of fruit spreads in Australia. In addition, the Company noted that the acquisition strengthens the industrial capabilities of Henry Jones by providing it with the ability to provide aseptic products for customers that produce yogurt and other dairy products. Henry Jones Foods also recently completed the acquisition of the Betta brand of fruit bars which has sales of approximately AUS $2 million in Australia.

The J.M. Smucker Company is the nation's leading producer of branded preserves, jams, jellies, and other fruit spread products, health and natural foods beverages, ice cream toppings, and natural peanut butter. Its businesses outside the United States are concentrated in Australia, Canada, and Mexico, with export sales to Asia, the United Kingdom, Central and Eastern Europe, and the Middle East. The Company's international businesses account for approximately 12 percent of its consolidated sales.

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