J. M. Smucker (SJM) Invests $35M in Oats-Products Maker Seamild

The J. M. Smucker Company (NYSE: SJM) today announced that it has acquired a non-controlling minority interest in Guilin Seamild Biologic Technology Development Co., Ltd. (“Seamild”), a privately owned manufacturer and marketer of oats products headquartered in Guilin in the Guangxi province of China, for approximately $35 million.

Seamild’s product portfolio, primarily consisting of oatmeal sold under the leading Seamild® brand, is distributed in retail channels throughout China. Seamild operates two manufacturing facilities, both located in southern China. A third facility, currently under construction in northern China, is expected to begin production in late summer 2012. The transaction is not expected to have a material impact on Smucker’s earnings in fiscal 2012 or on a full year basis. Smucker will account for this investment under the equity method of accounting.

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