US-based JM Smucker Company has acquired the Canadian Carnation canned milk brand from Nestle Canada through its subsidiary Smucker Foods of Canada Co.

Carnation branded milk products include evaporated milk, thick cream, and skim milk powder with annual net sales of approximately $50 million. “The addition of the Carnation milk brand, with its long history and leading position, is an excellent fit with our strategy of expanding our presence in Canada,” says Tim Smucker, chairman and co-chief executive officer.

For the remainder of fiscal 2008, the acquired business is expected to add approximately $30 million in net sales and bring a slight lift in earnings.