Sept. 25, 2006

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Horizon Milling G.P. Begins Operating in Canada

MINNEAPOLIS – Horizon Milling G.P., a partnership formed by Cargill and CHS Inc., has completed an agreement to purchase the Canadian grain-based foodservice and industrial businesses from Smucker Foods of Canada Co., a wholly-owned subsidiary of The J.M. Smucker Company. The purchase agreement was originally announced on July 20, 2006.

The business in Canada operates under the name Horizon Milling G.P. and includes three milling operations in Montreal, Quebec; Port Colborne, Ontario; and Saskatoon, Saskatchewan; and three dry baking mixing facilities in Montreal, Saskatoon, and Burlington, Ontario. It also includes a research and development center and new Horizon Milling G.P. company headquarters in Rexdale, Ontario.

Horizon Milling G.P. serves Canada’s foodservice, bakery and food manufacturing markets with quality flour, oats and baking mixes. Horizon Milling G.P. also licenses rights to Robin Hood^® brands in the Canadian, U.S. and Caribbean Basin foodservice and industrial markets. Through a co-packing agreement, Horizon Milling G.P. provides branded retail baking products, including Robin Hood^® flour, to the The J.M. Smucker Company.

“Horizon Milling is confirming its commitment to the baking industry in North America over the long term,” said Guy Shoemaker, president, Horizon Milling. “This acquisition complements our broader bakery strategy to provide distinctive customer solutions in supply-chain optimization, product formulation and risk management. We’re pleased to have this opportunity to participate in the Canadian baking industry and to build on the contributions of The J.M. Smucker Company.”

The new business in Canada adds approximately 450 employees to Horizon Milling’s 900 employees based in the United States.