US: Eagle acquisition boosts Smucker Q3
US food group JM Smucker today (15 February) announced an increase in third-quarter sales, citing the acquisition of Eagle Foods Holdings as an attributing factor.
For the three months ended 31 January, net sales increased 27% to US$665.4m compared to the third quarter of 2007 and net income saw an increase of 6% to US$42.4m.
The acquired Eagle business contributed US$69.3m in the quarter and the additional acquisition of Carnation condensed milk in Canada and a favourable exchange range also contributed.
"On the strength of our brands, we delivered good growth this quarter," said Richard Smucker, president and co-chief executive officer. " We maintain a long-term view on managing our business and are confident in our ability to continue to achieve profitable growth."
The JM Smucker Co posted an increase in full year earnings today (19 June), despite a weak fourth quarter that saw earnings fall 13%....
ConAgra Foods today (14 May) played down the prospect of more brands being offloaded in the wake of the sale of jam brand Knott's Berry Farm to fellow US food maker J. M. Smucker....
J. M. Smucker has bought jam brand Knott's Berry Farm from fellow US food group ConAgra Foods....
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Comment: Meal kits in US - don't believe the hype
- Column: Kraft Heinz, Unilever and sustainability
- General Mills sales woes continue - analysis
- Unilever 'lining up spreads sale'
- UK own-label firm Park Cakes sold in MBO
- Immigration crackdown "risk" for US dairy industry
- BRF plant suspended amid bribery allegations
- Brazil giants JBS, BRF probed over alleged bribery