Latest news with #Smucker
Miami Herald
4 days ago
- Business
- Miami Herald
Beloved snack cake maker closing factory
Everyone knows JM Smucker, aka Smuckers, for its jelly and peanut butter spreads, but over the years, the company has also become a leader in the snack aisle. The Ohio-based food giant has added a lineup of household brands to its shelves, including Milk-Bone (for pets), Folgers coffee, Jif peanut butter, and most recently, Hostess snack cakes. Don't miss the move: Subscribe to TheStreet's free daily newsletter You know, the same Twinkies, HoHos, and Ding Dongs that filled generations of lunchboxes and satisfied late-night cravings? In 2023, Smucker gobbled up Hostess Brands in a $5.6 billion deal, betting big on the appeal of sweet snacks, despite the growing popularity of healthier and less sugary foods in the U.S. But even amid that big investment, the company has been working to consolidate operations, and that means making some difficult choices. Smucker announced it will close its Hostess snack cake plant in Indianapolis in 2026, ending almost 70 years of operations there. The plant has produced the most popular Hostess treats for decades. Smucker did not explain why it selected the Indianapolis site for closure, but it's an older facility that may require significant investment to update. "This decision continues the ongoing work to ensure our manufacturing network is optimized to mitigate costs and reduce complexity in support of the execution of our Sweet Baked Snacks strategy, which is focused on stabilizing the Hostess business and positioning it for long-term growth," said Senior Vice President Judd Freitag in a statement. Related: Beloved Mexican restaurant closing iconic location after 63 years Smucker did not disclose how many employees will be affected by the closure, but around 260 people work in the Indianapolis location. The company says it plans to shift production to other facilities in its network and will sell the Indianapolis facility by the end of calendar year 2026. There is a broader trend in the food and beverage industry of identifying ways to trim costs. Inflation is squeezing consumer budgets, and they are cutting back on discretionary spending, which includes everything from travel and restaurant meals to non-staple groceries like sweet snacks. Some companies are choosing to close existing locations instead of retrofitting them. So far this year, PepsiCo, Conagra Brands, Post Holdings, and Brown-Forman have all announced plant closures or restructurings. In each case, the companies cited rising costs, the need for operational simplicity, and a shift toward long-term sustainability. Labor costs, ingredient price volatility, and shifting consumer habits are also contributing to the closure trend. More Food: Applebee's brings back all-you-can-eat deal to take down Chili'sPopular Mexican chain reveals surprising growth plansStarbucks CEO shares plan for a whole new menu Shoppers are more frequently visiting discount retailers and buying more private-label brands such as those from Costco and Trader Joe's. These habits pressure large food manufacturers to rethink how they produce, ship, and market their products. Smucker is committed to stabilizing and growing its snacks business, and the Indianapolis closure may be one way to simplify logistics so the brand can remain profitable, even as consumer spending tightens. Related: Nutella adds a new flavor few saw coming The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Indianapolis Star
5 days ago
- Business
- Indianapolis Star
East side Indy Hostess plant will close by early 2026, J.M. Smucker says
J.M. Smucker has announced plans to shutter the longstanding Hostess plant on the east side of Indianapolis by early 2026, a move that is expected to put hundreds of local workers out of a job. J.M. Smucker, the parent company of Hostess based in Orville, Ohio, said in a May 27 press release it aims to consolidate operations and sell the Indianapolis facility at the corner of 30th Street and Shadeland Avenue Roughly 260 people work at the Indianapolis Hostess plant, according to a facility map on the Smucker website. Since 1957, workers at the east side plant have baked beloved products, beginning with Wonder Bread and later expanding to other Hostess baked goods, like the iconic Twinkies cakes and Donettes mini donuts. The plant changed hands in the 1990s and briefly closed in 2012 due to Hostess declaring bankruptcy before reopening a year later. Hostess Brands, along with the Indianapolis facility, was acquired by the J.M. Smucker Company in 2023. In a statement, J.M. Smucker executives said the closure is part of the company's "Sweet Baked Snacks" strategy, which is focused on growing the Hostess brand and increasing the company's position in the sweet baked goods category at the grocery store. "This decision continues the ongoing work to ensure our manufacturing network is optimized to mitigate costs and reduce complexity in support of the execution of our Sweet Baked Snacks strategy, which is focused on stabilizing the Hostess business and positioning it for long-term growth," said Judd Freitag, Senior Vice President and General Manager, Pet and Sweet Baked Snacks. "Any decision that impacts our employees is only made after careful consideration. We appreciate the contributions of our Indianapolis employees, and we will support them through this transition." Indianapolis manufacturing: Roche will put $550 million facility for glucose monitors in Indianapolis, adding 650 jobs The company also makes Hostess products at two plants in Kansas and one site in Georgia. J.M. Smucker will release more information on how it will close and sell the Indianapolis plant on its June 10 earnings call.
Yahoo
20-05-2025
- Business
- Yahoo
Smucker, House Republicans move forward Trump's ‘One Big Beautiful Bill Act'
(WHTM) — House Republicans are back on track and have advanced the president's budget plan. Late Sunday night, the House Budget Committee voted on party lines to approve the plan, known as the 'One Big Beautiful Bill Act.' Close Thanks for signing up! Watch for us in your inbox. Subscribe Now The measure failed to pass out of committee Friday when four Republicans voted against it for not cutting enough spending. Midstate Congressman Lloyd Smucker is vice chair of the committee and supports the bill. He voted against it in a procedural move last week but says he supports the president's plan. 'We're a deliberative body, we're legislature,' Smucker said. 'So it takes time to bring together all the different views within our conference. We're going to get no help from Democrats here.' Democrats slammed the bill, saying it cuts health care coverage while extending tax breaks for the wealthy. Smucker says he's confident the bill will quickly move to the Senate and the president. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
16-05-2025
- Business
- Yahoo
These Republicans voted against advancing Trump's ‘big, beautiful bill'
Five House Republicans voted Friday against advancing President Trump's 'big, beautiful bill,' which contains his legislative agenda. House Republican fiscal hawks sunk a key vote on the president's One Big Beautiful Bill Act, with the final Budget Committee vote 16-21. The five committee Republicans who voted no Friday were: Chip Roy (Texas), Ralph Norman (S.C.), Josh Brecheen (Okla.), Andrew Clyde (Ga.) and Lloyd Smucker (Pa.). House GOP lawmakers could only lose two votes from their members in the committee and still push the legislation ahead. Smucker switched his vote from yes to no on Friday as a procedural move. 'To be clear—I fully support the One Big Beautiful Bill (OBBB). My vote today in the Budget Committee is a procedural requirement to preserve the committee's opportunity to reconsider the motion to advance OBBB,' Smucker said in a Friday post on social platform X. Following the vote, House Budget Committee Chair Jodey Arrington (R-Texas) called the committee into recess. The committee will reconvene Sunday at 10 p.m. EDT, three sources told The Hill. The legislation contains the extension of the president's 2017 tax cuts, coupled with cuts to food and entitlement programs that House GOP lawmakers estimate will save north of $1.5 billion over the next 10 years. The bill repeals green energy tax credits and includes Medicaid reforms, including heightened work requirements on 'able-bodied' adults, which will lead to millions of people losing health coverage. More moderate House GOP members are pushing for an increase in the state and local tax deduction cap. In return, fiscal hawks want to alter the legislation to find savings somewhere else. 'This bill falls profoundly short. It does not do what we say it does with respect to deficits,' Roy said Friday during the markup. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
NBC News
16-05-2025
- Business
- NBC News
Conservatives block Trump agenda bill from advancing in major setback for GOP leaders
WASHINGTON — The GOP-led House Budget Committee voted to reject a sweeping package for President Donald Trump's agenda on Friday, dealing an embarrassing setback to Speaker Mike Johnson, R-La., and Republican leaders. The vote in the Budget Committee was 16-21, with a band of conservative hard-liners who are pushing for steeper spending cuts joining all Democrats in voting against the multitrillion-dollar legislation, leaving its fate uncertain. The Republicans who voted "no" were Reps. Chip Roy of Texas, Ralph Norman of South Carolina, Andrew Clyde of Georgia and Josh Brecheen of Oklahoma. Rep. Lloyd Smucker of Pennsylvania changed his vote from "yes" to "no," he said, as a procedural move to allow Republicans to call the bill up again. During the hearing, Roy fired a warning shot at Republican leaders, saying he opposes the bill as written because it will increase the deficit. 'I have to now admonish my colleagues on this side of the aisle. This bill falls profoundly short. It does not do what we say it does with respect to deficits,' Roy said. 'That's the truth. Deficits will go up in the first half of the 10-year budget window and we all know it's true. And we shouldn't do that. We shouldn't say that we're doing something we're not doing.' 'This bill has back-loaded savings and has front-loaded spending,' Roy added. 'I am a no on this bill unless serious reforms are made today, tomorrow, Sunday. Something needs to change or you're not gonna get my support.' After the vote tally was read, Rep. Jodey Arrington, R-Texas, the committee chair, adjourned the hearing and told members they would not be meeting again this weekend. 'It's like the last day of third grade. We get to go home,' Rep. Glenn Grothman, R-Wis., quipped after the hearing. But he predicted the bill would eventually pass. 'It has to pass,' Grothman said. Negotiations with the GOP holdouts will continue in the coming days. The House Budget Committee announced it would reconvene to take up the bill again on Sunday at 10 p.m. ET. 'You never know until you call the question where people stand, which is the reason I called for a vote. You can't accomplish anything in life without having deadlines and decisions,' Arrington told reporters afterward. 'Today was a deadline and a decision, and it's one of the decision points to get us to the successful passage of the reconciliation bill.' Friday's delay means that it will now be more difficult for Johnson to meet his self-imposed Memorial Day deadline to pass what Trump has called his 'big, beautiful bill' and send it to the Senate. But Smucker told reporters he hopes the legislation can pass committee by Monday, which would keep the House on track to approve the measure by the end of next week. 'So we're working through some remaining issues here. There are just a few outstanding issues. I think everyone will get to yes,' Smucker said. In a post on X, the Freedom Caucus said its members will work though the weekend to reach a deal to pass the package. 'Reps. Roy, Norman, Brecheen, Clyde and others continue to work in good faith to enact the President's 'Big Beautiful Bill' — we were making progress before the vote in the Budget Committee and will continue negotiations to further improve the reconciliation package,' the post from the Freedom Caucus' account said. 'We are not going anywhere and we will continue to work through the weekend.' The failed vote came just hours after Trump took to Truth Social to admonish GOP 'grandstanders' and urge Republicans to get behind the bill. 'Republicans MUST UNITE behind, 'THE ONE, BIG BEAUTIFUL BILL!'' Trump wrote. 'We don't need 'GRANDSTANDERS' in the Republican Party. STOP TALKING, AND GET IT DONE!' he added. Prior to Friday's committee, Republican leaders conceded that changes would be needed for the bill to pass through the House, where the party holds a slim majority. In addition to the spending and deficit concerns from the right, a group of blue-state Republicans have called for a higher cap on the state and local tax deduction, or SALT. Across the aisle, Rep. Brendan Boyle, D-Pa., previewed the Republican divisions at the outset of the hearing, vowing that all Democrats would oppose it. 'You will hear over the course of this hearing a vigorous debate. And frankly there is a strong divide between Republicans and some other Republicans. There is also a divide between both sets of Republicans and this side of the dais,' said Boyle, the top Democrat on the budget panel. 'I can speak at least as to why it is every Democratic member will be voting no on the bill for billionaires.'
