Potential for a turnaround Good products with loyal customers Decent management who has shown they are willing to improve the fundamentals

Possible play into the women’s clothing line Has been rumored by many to be a logical target for ESL (which might be a downside

Potential for a turnaround Good products with loyal customers Decent management who has shown they are willing to improve the fundamentals

Another good play in the cosmetic line Decent balance sheet with a niche based product with customer loyalty Not covered that well though they crushed numbers recently

Possible play into the women’s clothing line Has been rumored by many to be a logical target for ESL (which might be a downside

Health insurance play Balance sheet clearly needs to be worked on Gives ESL access to an age society

Another good play in the cosmetic line Decent balance sheet with a niche based product with customer loyalty Not covered that well though they crushed numbers recently

Smuckers is the perfect value play on a staple American product Jelly has been eaten by people across the world for breakfast for hundreds of years and there are no signs of this trend stopping May not fit in with what ESL is looking to invest in