J.M. Smucker Co.
SJM,
-1.22%
stated Thursday it’s investing $1.1 billion to construct a brand new manufacturing and distribution facility in McCalla, Alabama to supply its “Uncrustables” frozen handheld sandwiches. Building of the power, which is anticipated to create as much as 750 jobs, will start no later than January 2022, and manufacturing starting in 2025. The buyer meals firm, which manufacturers embrace Smuckers, Jif, Folgers and Milk-Bone, stated the funding comes as its frozen handheld sandwich has seen double-digit proportion gross sales progress yearly over the previous decade to succeed in $500 million a 12 months. The inventory, which slumped 2.0% in morning buying and selling, has gained 8.4% 12 months thus far, whereas the SPDR Shopper Staples Choose Sector ETF
XLP,
-0.36%
has tacked on 6.8% and the S&P 500
SPX,
-0.14%
has superior 24.9%.

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