J M SMUCKER Co
The J.M. Smucker Company is a 125-year-old food manufacturing and marketing company based in Orrville, Ohio, with operations in the United States and Canada. The company operates in one industry, primarily focusing on the manufacturing and marketing of branded food and beverage products. Its principal products include coffee, cat food, pet snacks, dog food, frozen handheld products, peanut butter, fruit spreads, portion control products, baking mixes and ingredients. The company's brands include Folgers, Dunkin', Smucker's, Jif, Milk-Bone, Pup-Peroni, and Meow Mix, among others. The company has three reportable segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. In 2023, the company sold certain pet food brands to Post Holdings, natural beverage and grains businesses to Nexus Capital Management LP, private label dry pet food business to Diamond Pet Foods, and Natural Balance premium pet food business to Nexus. The company's website is www.jmsmucker.com, and its ticker symbol is SJM. The company's business strategy is to focus on innovation, sustainability, and ethical business practices. It aims to satisfy evolving consumer trends by offering products that cater to health and wellness, convenience, and sustainability. The company also prioritizes environmental sustainability and has set goals related to waste diversion, water usage, energy usage, greenhouse gas emissions, and sustainable packaging. Additionally, it is committed to creating an inclusive and diverse workplace and has established employee resource groups to support employees and encourage allyship. The company's human capital management practices include offering a variety of free and discounted services, education opportunities, and health and wellness programs to support employees' physical, emotional, and financial well-being. It also provides paid time off and programs to promote workplace flexibility. The company has a strong focus on health and safety, with a total recordable incident rate that is three times below the industry average. It also offers learning and development opportunities to foster a culture of continuous learning and growth. The company's compensation and benefits package is competitive and comprehensive, offering insurance coverage options, a Company-matched retirement savings program, and resources to support employees' changing needs throughout their careers. It also offers paid time off, parental leave, and pet bereavement leave. In 2022, the company extended its Total Rewards benefits package to include advocacy resources for LGBTQ+ employees and broadened its family building benefits to support various forms of family building. The company is committed to supporting its communities by partnering with organizations that improve access to quality education and investing in scholarships for college students. It also sponsors programs that invest in the Latino community and offers resources to help LGBTQ+ employees navigate obstacles and identify LGBTQ+ knowledgeable providers. The company's approach to paid time off is competitive and includes at least three weeks of paid time off, 12 paid Company holidays per calendar year, and a floating holiday that can be used at the employee's discretion. In 2023, the company established human resource positions focused on improving diversity and inclusion within talent acquisition and recruiting.