Smucker's Uncrustables – the pillowy peanut butter and jelly sandwiches found in the frozen aisle – could soon hit $1 billion in annual sales. To keep up with demand, J.M. Smucker Co. will soon open a third Uncrustables plant.

It almost didn’t happen. The product lost money for more than a decade after the company bought the Unscrustables brand in 1998, Chairman, President and CEO Mark Smucker said. The manufacturer once known only for its jellies and jams spent years trying to figure out how to mass produce the stretchy, hole-free bread used in the crust-free sandwiches.

For Mark Smucker, the fifth generation of his family to run J.M. Smucker, having the time to get it right is one of the benefits of leading a 127-year-old company.

“Because we’ve been in business for so long and we have been family run, we do take a long-term view,” Smucker said. “The peanut butter and jelly sandwich is the No. 1 sandwich consumed at lunch in the U.S. We said, ‘This is something we’ve got to lead.’”

Over the last 20 years, Orrville, Ohio-based J.M. Smucker has expanded to include brands like Milk-Bone dog biscuits, Meow Mix cat food, Folgers coffee and Jif peanut butter.

Smucker, who joined the family business in 1997 and became CEO in 2016, has sharpened the focus on high-growth categories. Last year, the company bought Hostess Brands, the maker of Twinkies, for $5.6 billion.

Mark Smucker recently spoke with The Associated Press about his family's company, food prices and his hobby as a house music deejay. His comments have been edited for length and clarity.

Q. There seems to be constant churn at J.M. Smucker. You sold Crisco, Gravy Train and Pillsbury a few years ago and recently bought Hostess Brands. Why so much change?

A. Around 2000 or 2001, my predecessor realized that we don’t have to be a fruit company. What we’re good at is marketing and selling brands. We’re good at connecting with consumers. And that unlocked this idea that we could enter other categories. That allowed us to become a more meaningful player in the industry. Having that scale allowed us to lead in many categories as I became CEO. But the consumer has been shifting, and we took it upon ourselves to really transform our portfolio. We have to make sure that the businesses that we’re in, the brands that we’re in, the categories where we play, are able to provide growth.

Q. How does the Hostess brand fit into your portfolio?

A. Seventy percent of consumers eat two snacks a day. And generally speaking, the indulgent snacks are growing faster than regular food. Snacking is something that we all do. And there are moments when we as consumers want something more indulgent, something sweet versus salty. And Hostess can provide that. So we’re really excited about the Hostess brand.