J. M. Smucker has bought jam brand Knott's Berry Farm from fellow US food group ConAgra Foods.

Smucker, which snapped up the brand for an undisclosed sum, said the business would add around US$40m to its annual sales.

"Knott's Berry Farm is a well recognized brand with a long and rich history, complementing our existing line of fruit spreads," said Smucker consumer market senior vice president Vince Byrd.

ConAgra CEO Gary Rodkin said the deal made "solid business sense for us". He added: "Knott's Berry Farm is a very good brand, but given our priorities, we simply could not give it the attention it needs to grow."