The J. M. Smucker Company and Rev1 Ventures, the investor startup studio that combines capital and strategic services, announced a strategic partnership. The collaboration will help the industry leader tap into emerging technologies and startups that are transforming the food industry across several focus areas, including ingredient and process technology, snacking, commodity and supply chain, and more.
Headquartered in Ohio since its founding more than 120 years ago, The J. M. Smucker Company is known for prioritizing quality and innovation. For decades, Smucker has been a leader in the food and beverage industry, a sector that accounts for 15.3 cents of every US consumer food dollar. This industry is increasingly focused on adopting innovative technologies to engage with consumers in new ways.
Rev1 Ventures, a top VC investor in the Great Lakes Region, aligns innovators and founders with corporate and research partners to access customers and markets. The company will identify and connect Smucker with promising new technologies and startups in the food industry.
"The partnership with Rev1 Ventures is a strategic decision to align more closely with the best and brightest innovators and technologies who are helping industries like ours think outside of the box," said Tina Floyd, Senior Vice President and General Manager, Consumer Foods, at The J.M. Smucker Company. "By tapping into Rev1's extensive network of entrepreneurs, we can gain access to and more easily adopt technologies for our operations and products, while also driving startup success in our backyard."