Smucker Foods acquires Carnation

November, 2007 – Smucker
Foods of Canada Co., a subsidiary of The J.M. Smucker Company, has
acquired the Canadian Carnation brand canned milk products business
from Nestle Canada, including the rights to use the Carnation brand for
these products in Canada.

Smucker
Foods of Canada Co., a subsidiary of The J.M. Smucker Company, has
acquired the Canadian Carnation brand canned milk products business
from Nestle Canada, including the rights to use the Carnation brand for
these products in Canada. Terms of the transaction were not disclosed.
The current line of Carnation branded milk products marketed in Canada
that was acquired includes evaporated milk, thick cream, and skim milk
powder, with annual net sales of approximately $50 million.In addition
to the licence for the Carnation brand in the evaporated, thick cream,
and powdered milk category in Canada, the acquisition includes a
manufacturing facility in Sherbrooke, Que., with 29 employees. For the
remainder of fiscal 2008, the acquired business is expected to add
approximately $30 million in net sales and be slightly accretive to
earnings.