Working against tough-to-beat comparables from the previous year when consumers were in full pantry-loading mode, J.M. Smucker reported an 8% decline in net sales to $1.92bn in Q4 2021 compared to the same period last year.
J.M. Smucker Co. has entered into a definitive agreement to sell its Natural Balance premium pet food business to Nexus Capital Management in a cash transaction valued at approximately $50m.