The J. M. Smucker Company Announces Pricing of Notes Offering

ORRVILLE, Ohio, Oct. 13, 2011 /PRNewswire/ -- The J. M. Smucker Company (NYSE: SJM) today announced that it has priced a public offering of $750 million principal amount of 3.50% notes due 2021.

The Company intends to use the net proceeds from the offering for the repayment of borrowings outstanding under the Company's revolving credit facility used to fund recent acquisitions, capital expenditures and other working capital requirements, for general corporate purposes, which could include, but are not limited to, repayments of outstanding debt, capital expenditures or working capital, and for funding of possible acquisitions.  The offering is expected to close on October 18, 2011.

J.P. Morgan Securities LLC and BofA Merrill Lynch are acting as joint book-running managers for the offering.  BMO Capital Markets Corp., William Blair & Company, LLC, Fifth Third Securities, Inc., PNC Capital Markets LLC, U.S. Bancorp Investments, Inc., and SunTrust Robinson Humphrey, Inc. are acting as co-managers.

The public offering is being made pursuant to a base prospectus (as supplemented by a prospectus supplement), which is part of an effective shelf registration statement on file with the U.S. Securities and Exchange Commission.

A copy of the prospectus and prospectus supplement relating to the notes can be obtained from J.P. Morgan Securities LLC at 383 Madison Avenue, 3rd Floor, New York, NY 10179, Attention: High Grade Syndicate Desk, or by calling 1-212-834-4533; or from BofA Merrill Lynch at 100 West 33rd Street, 3rd Floor, New York, NY 10001, Attention: Syndicate Operations, or by calling 1-212-449-1668 or e-mailing [email protected].

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, the Company's notes or any other securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About The J. M. Smucker Company

For more than 110 years, The J. M. Smucker Company has been committed to offering consumers quality products that bring families together to share memorable meals and moments.  Today, Smucker is a leading marketer and manufacturer of fruit spreads, retail packaged coffee, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk, and health and natural foods beverages in North America.  Its family of brands includes Smucker's®, Folgers®, Dunkin' Donuts®, Jif®, Crisco®, Pillsbury®, Eagle Brand®, R.W. Knudsen Family®, Hungry Jack®, Cafe Bustelo®, Cafe Pilon™, White Lily® and Martha White® in the United States, along with Robin Hood®, Five Roses®, Carnation® and Bick's® in Canada.  The Company remains rooted in the Basic Beliefs of Quality, People, Ethics, Growth, and Independence established by its founder and namesake more than a century ago.  The Company has appeared on FORTUNE Magazine's list of the 100 Best Companies to Work For in the United States 13 times, ranking number one in 2004.

The J. M. Smucker Company is the owner of all trademarks, except Pillsbury, the Barrelhead logo and the Doughboy character are trademarks of The Pillsbury Company, LLC, used under license; Carnation is a trademark of Societe des Produits Nestle S.A., used under license; and Dunkin' Donuts is a registered trademark of DD IP Holder, LLC, used under license.  Borden and Elsie are trademarks used under license.

Dunkin' Donuts® brand is licensed to The J. M. Smucker Company for packaged coffee products sold in retail channels such as grocery stores, mass merchandisers, club stores, and drug stores.  This information does not pertain to Dunkin' Donuts® coffee or other products for sale in Dunkin' Donuts® restaurants.  K-Cup® and K-Cups® are trademarks of Keurig, Incorporated.  

The J. M. Smucker Company Forward-Looking Language

This press release contains certain statements, such as the statements regarding the public offering of the notes, the anticipated use of proceeds and any other statements regarding events or developments that the Company believes or anticipates will or may occur in the future, that may be "forward-looking" statements within the meaning of the federal securities laws and that are subject to known and unknown risks and uncertainties that could cause actual events to differ materially from those expressed or implied by such forward-looking statements.  Additional information regarding the factors that may cause actual events to differ materially from those forward-looking statements is available in the Company's SEC filings, including its 2011 Annual Report on Form 10-K and its Quarterly Report on Form 10-Q for the quarter ended July 31, 2011.  Readers are cautioned not to unduly rely on such forward-looking statements, which speak only as of the date made, when evaluating the information presented in this press release.  The Company does not undertake any obligation to update or revise those forward-looking statements to reflect new events or circumstances.

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SOURCE The J. M. Smucker Company