by Christopher Freeburn | May 3, 2013 9:54 am
J.M. Smucker (NYSE:SJM) is launching a new coffee brand.
The maker of popular jellies and jams is teaming with apparel producer Life is good to debut a line of packaged coffees over the summer. The coffees will be sold online and at supermarkets, Genuine Neighborhood Shops and Life is good stores nationwide, the Boston Globe notes.
Smucker is the largest U.S. producer of coffee. The Life is good brand will come in a number of flavors, including Dark & Daring, Happy Medium, S’more to Love and Light Hearted.”
Life is good says that it will donate 10% of its profits from the coffee line to its Life is good Kids foundation. It recently partnered with Hallmark to created a line of greeting cards.
In February, Smucker reduced the prices of its Folgers and Dunkin’ Donuts branded coffees by about 6% due to falling prices for coffee beans.
Shares of J. M. Smucker rose slightly in Friday morning trading.
Source URL: http://investorplace.com/2013/05/smucker-to-launch-life-is-good-brand-coffee-line/
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