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SMUCKER ACQUIRES CANADIAN BUSINESS

 ORRVILLE, Ohio, and MONTREAL, Quebec, June 8 /PRNewswire/ -- The J. M. Smucker Company (NYSE: SJMA/SJMB) and Culinar, Inc. announced today that they have signed an agreement for the sale of Culinar's jam, preserve, and pie filling business to Smucker's.
 Culinar is one of the leading food companies in Canada and processes and markets a broad range of food products in both Canada and the United States. It has marketed jams in Canada since 1950 and is a market share leader in Eastern Canada. The Double Fruit line of lower sugar content jams was launched by Culinar in 1985 and has become one of the leading brands of jam in Canada. Culinar announced its intention to sell the jam business earlier this year in connection with its decision to concentrate on the development of its core bakery business. Sales for the business last year were approximately $35 million (Canadian).
 In commenting on the proposed acquisition, Tim Smucker, chairman of Smucker's, said, "We have great respect for Culinar, its people, and its products, and we are very excited about the opportunity to acquire the jam business. The Double Fruit line, the Vachon brand pie fillings, and the other fruit-related products of the business will fit in excellently with our existing Smucker's and Shirriff businesses in Canada. We look forward to exploring the many opportunities for the combined businesses."
 Among the assets to be acquired as part of the transaction is a production facility located in Sainte-Marie-de-Beauce, Quebec, which is near Quebec City. Culinar's jam division currently employs approximately 150 people. According to a spokesman for Smucker's, it is the company's intention to maintain production at the Quebec plant and to offer employment to all current employees of the jam division.
 Completion of the transaction is subject to the conduct of customary due diligence investigations and receipt of any necessary regulatory approvals. Closing of the acquisition is expected to occur around mid- summer. Terms of the transaction were not disclosed.
 -0- 6/8/93
 /CONTACT: Steven J. Ellcessor, secretary and general counsel, or Richard K. Smucker, president, both of The J.M. Smucker Company, 216-682-3000; or Nicole Gauthier, director, communications, Culinar, Inc., 514-288-3101/
 (SJMA SJMB)


CO: The J. M. Smucker Company; Culinar, Inc. ST: Ohio, Quebec IN: FOD SU: TNM

BM -- CL013 -- 6712 06/08/93 16:53 EDT
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Publication:PR Newswire
Date:Jun 8, 1993
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