8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) March 15, 2010

THE J. M. SMUCKER COMPANY

(Exact name of registrant as specified in its charter)

Ohio (State or other jurisdiction of incorporation or organization)	34-0538550 (I.R.S. Employer Identification No.)
One Strawberry Lane Orrville, Ohio (Address of principal executive offices)	44667-0280 (Zip code)

Registrant’s telephone number, including area code: (330) 682-3000

N/A
(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01. Regulation FD Disclosure.

On March 15, 2010, The J. M. Smucker Company (the “Company”) announced a sale of its potato product line with a licensing agreement for Hungry Jack® brand potato products to Basic American Foods. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.

In addition to the information set forth in the press release, the sale is a cash transaction and the Company expects to recognize a pre-tax gain on the transaction of approximately $12 million during its fourth quarter ending April 30, 2010. This gain was not included in the Company’s fiscal 2010 outlook updated on February 24, 2010. The sale of this business is not expected to otherwise materially impact the fourth quarter of 2010.

On an annual basis, the Hungry Jack® potato products contributed nearly $50 million to Company net sales. The net impact of the sale of this business, after consideration of the revenue expected to be generated from the licensing agreement, is not expected to be material to net income in future periods.

This Form 8-K contains forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by those forward-looking statements. Readers should understand that the risks, uncertainties, factors and assumptions listed and discussed in this Form 8-K, including the following important factors and assumptions, could affect the future results of the Company and could cause actual results to differ materially from those expressed in the forward-looking statements:

• volatility of commodity markets from which raw materials, particularly green coffee beans, wheat, soybean oil, milk, and peanuts are procured and the related impact on costs;

• risks associated with hedging, derivative, and purchasing strategies employed by the Company to manage commodity pricing risks, including the risk that such strategies could result in significant losses and adversely impact the Company’s liquidity;

• crude oil price trends and their impact on transportation, energy, and packaging costs;

• the ability to successfully implement price changes;

• the success and cost of introducing new products and the competitive response;

• the success and cost of marketing and sales programs and strategies intended to promote growth in the Company’s businesses;

• general competitive activity in the market, including competitors’ pricing practices and promotional spending levels;

• the impact of food safety concerns involving either the Company or its competitors’ products;

• the impact of natural disasters, including crop failures and storm damage;

• the concentration of certain of the Company’s businesses with key customers and suppliers and the ability to manage and maintain key relationships;

• the loss of significant customers or a substantial reduction in orders from these customers or the bankruptcy of any such customer;

• changes in consumer coffee preferences, and other factors affecting the coffee business, which represents a substantial portion of the Company’s business;

• the ability of the Company to obtain any required financing;

• the timing and amount of the Company’s capital expenditures and merger and integration costs;

• impairments in the carrying value of goodwill, other intangible assets, or other long-lived assets or changes in useful lives of other intangible assets;

• the outcome of current and future tax examinations, changes in tax laws and other tax matters, and their related impact on the Company’s tax positions;

• foreign currency and interest rate fluctuations;

• political or economic disruption;

• other factors affecting share prices and capital markets generally; and

• the other factors described under “Risk Factors” in registration statements filed by the Company with the Securities and Exchange Commission and in the other reports and statements filed by the Company with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and proxy materials.

Item 9.01 Financial Statements and Exhibits.

     (d) Exhibits.

Exhibit Number	Description
99.1	Press Release Dated March 15, 2010

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 15, 2010	THE J. M. SMUCKER COMPANY
	BY	/s/ Mark R. Belgya
		MARK R. BELGYA
		Senior Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

THE J. M. SMUCKER COMPANY ANNOUNCES
DIVESTITURE OF HUNGRY JACK® POTATO PRODUCTS
TO BASIC AMERICAN FOODS

Smucker will Continue to Own and Market Hungry Jack in the Breakfast Category;
Basic American Foods will Expand Retail Presence in Potato Business;

ORRVILLE, Ohio and WALNUT CREEK, Calif., March 15, 2010 — The J. M. Smucker Company (NYSE: SJM) and Basic American Foods today announced the sale of and a licensing agreement for Hungry Jack® brand potato products that will allow Basic American Foods to expand its retail presence in the potato business. The transaction includes Hungry Jack brand potato products and Idaho® Spuds^TM branded potatoes. Hungry Jack pancake mix and syrup products will both remain part of the Smucker family of brands.

“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,” said Steve Oakland, president of U.S. retail for Smucker’s®, Jif® and Hungry Jack.

Smucker has an established leadership presence in the breakfast category with iconic brands such as Smucker’s®, Folgers®, Dunkin’ Donuts®, Pillsbury®, R. W. Knudsen Family® and Martha White®.

Basic American Foods has been a longstanding manufacturer and co-packer of the Hungry Jack and Idaho Spuds brands and is the leading producer of dehydrated potatoes in North America. The licensing agreement allows Basic American Foods to build on its already successful foodservice business by extending into the retail channel.

“We are very excited to welcome the Hungry Jack and Idaho Spuds potato product brands into our family at Basic American Foods,” said Loren Kimura, president and CEO of 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 J. M. Smucker Company, and we look forward to expanding our retail business well into the future.”

Hungry Jack and Idaho Spuds join Basic American Foods’ leading brands in its family of premium products, which include: Natures Own® Potato Pearls® Premium Mashed Potatoes;

Golden Grill Russet^TM Premium Hash Brown Potatoes; Potato Pearls EXCEL®; Quick-Start® Home Style Chili; and Santiago® Refried and Seasoned Black Beans.

Additional terms and conditions of the agreement were not disclosed.

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 help families create memorable mealtime moments. Today, Smucker is the 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®, White Lily® and Martha White® in the United States, along with Robin Hood®, Five Roses®, Carnation®, Europe’s Best® 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 12 times, ranking number one in 2004. For more information about the Company, visit www.smuckers.com.

The J. M. Smucker Company is the owner of all trademarks, except Pillsbury is a trademark of The Pillsbury Company, LLC used under license; Carnation is a trademark of Société des Produits Nestlé S.A., used under license; and Dunkin’ Donuts is a registered trademark of DD IP Holder LLC used under license.

About Basic American Foods

Headquartered in Walnut Creek, California and privately held, Basic American Foods is one of the world’s leading suppliers of convenience food products, including dry potato and bean products. Founded more than 75 years ago, Basic American Foods serves foodservice distributors, commercial and non-commercial foodservice operators, industrial, wholesale club, and retail customers in domestic and international markets. For more information visit www.baf.com.

Contact Information:
Maribeth Badertscher
VP Corporate Communications
The J. M. Smucker Company
T: 330-684-3034
Maribeth.badertscher@jmsmucker.com

Sonal Robinson
Director Corporate Finance & Investor Relations
The J. M. Smucker Company
T: 330-684-3440
Sonal.robinson@jmsmucker.com

Matt Riley
VP Consumer Foods
Basic American Foods
T: 925-472-4117
mriley@baf.com