JTM Foods

US food and beverages manufacturer JM Smucker has announced that it has entered into an agreement to sell its Cloverhill and Big Texas bakery brands, as well as certain private-label products, to ready meals firm JTM Foods for $40 million. As part of the deal, relevant trademarks and licences, the company’s manufacturing facility in Chicago (IL), and approximately 400 employees will transfer with the business. Commenting on the move, Sweet …