“What’s better than coffee and a Twinkie?”
Mark Smucker, chairman and president/CEO of the company that bears his family name, asked the question at the start of his presentation to the Consumer Analyst Group of New York conference Feb. 21. The company has been through a number of transformations since starting life as a jam and jelly maker, and now coffee and sweet baked goods are big parts of J.M. Smucker.
Mr. Smucker reported “sustained momentum and volume growth across our portfolio,” and is looking forward to fully integrating the Hostess Co., which it acquired just last November.
To make room for the Twinkies and the Ding-Dongs, Smucker sold off most of its recently acquired dog food lines, although dog treats and cat food remain. Coffee is now the biggest part of the company. While the Folgers brand leads the way, Mr. Smucker sees a bright future for the licensed Dunkin brand – he sees it becoming a billion-dollar brand in a few years. Cafe Bustelo, too, is expected to grow and will launch ready-to-drink products in May.
And Uncrustables continues to be a runaway success. The third plant dedicated to the frozen sandwiches is under construction. Once more capacity comes online, Smucker will push them more in convenience stores.
