JM Smucker Divests Hungry Jack Potato Brand
The JM Smucker Company, a manufacturer and marketer of foods and beverages in North America, has sold Hungry Jack brand potato products and also granted a licensing agreement for the brand to Basic American Foods. This agreement will allow Basic American Foods to expand its retail footprint in the potato business.
The sale deed includes Hungry Jack brand potato products and Idaho Spuds branded potatoes. Hungry Jack pancake mix and syrup products will both remain part of the Smucker portfolio of brands. The company's brands in the breakfast category include Smucker's, Folgers, Dunkin' Donuts, Pillsbury, R W Knudsen Family and Martha White.
Basic American Foods has been a manufacturer and co-packer of the Hungry Jack and Idaho Spuds brands, and is a producer of dehydrated potatoes in North America. The licensing agreement allows Basic American Foods to leverage on its current foodservice business by extending into the retail channel.
Steve Oakland, president of US retail for Smucker's, Jif and Hungry Jack, said: The Hungry Jack brand has been a part of family meals for many years and Hungry Jack pancake mixes and syrups will continue to be an important part of our leading role in the breakfast category.
“The divestiture of this potato business allows us to better align our Company's resources while at the same time provides Basic American Foods with a product line that is a perfect strategic fit in its portfolio.
Loren Kimura, president and CEO of Basic American Foods, said: We are very excited to welcome the Hungry Jack and Idaho Spuds potato product brands into our family at Basic American Foods. We have an established history of excellence both with these products and within the potato products category. Basic American Foods is committed to a smooth transition of the business from The JM Smucker Company, and we look forward to expanding our retail business well into the future.
Hungry Jack and Idaho Spuds add to the Basic American Foods' family of brands, which include: Natures Own Potato Pearls Premium Mashed Potatoes; Golden Grill Russet Premium Hash Brown Potatoes; Potato Pearls Excel; Quick-Start Home Style Chili; and Santiago Refried and Seasoned Black Beans.
Related Insight
Suppliers Directory
Processed Foods Bakery & Cereals Confectionary Pasta & Noodles Savory Snacks Sweets & Desserts
Condiments & Ingredients Ingredients Oil & Fats Sauces & Spreads Soups
Chilled & Deli Food
Special Foods Baby Food Health Foods
Food Technology Process & Production IT & Software Packaging Sustainability
Marketing & Regulatory Regulatory & Food Safety Supply Chain Retail
Savory Snacks Intelligence
Until recently, the beverages market was divided simply between alcoholic and non-alcoholic beverages. As consumers’ tastes grew more sophisticated and demand surged for a variety of beverage options catering to lifestyle changes and health concerns, the beverages industry has responded with a dizzying array of options to choose from. This report focuses on the U.S. and world markets for beverages across several broad categories. For the purposes of this study, TriMark Publications has divided the global beverages markets into the following product segments include: 1) alcoholic beverages such as wines, beers and spirits; 2) non-alcoholic beverages such as bottled water and milk; 3) brewed beverages such as coffees and teas; 4) carbonated beverages such as sodas and soft drinks; 5) non-carbonated juice products both fresh and pre-packaged; and 6) energy drinks which are generally caffeinated beverages in both carbonated and non-carbonated forms. For each market segment, this study presents the latest information on size, growth rates, sales projections and factors influencing growth in the U.S. and internationally. Reports Buy online from $449
Comments may be moderated for spam, obscenities or defamation.