This audio is generated automatically. Please let me know if you have any comments.
JM Smucker will sell its Voortman cookie brand to US premium snack maker Second Nature Brands for $305 million in cash.
The Uncrustables producer said the deal includes a leased manufacturing facility in Burlington, Ontario. Smucker said about 300 employees will transition from the business. The transaction is expected to close in the third quarter of Smucker’s fiscal year, which ends April 30.
“This decision reflects our ongoing commitment to optimizing our portfolio and resources to focus on our greatest growth opportunities as a company,” Mark Smucker, CEO of Smucker, said in a statement.
Executives added that the sale is “an important step in our integration plan” and will allow the company to focus on Hostess’s highlighted Sweet Baked Snacks strategy.
Smucker forecast annual net sales for fiscal 2025. Boatman About 1.5 million dollars.
Voortman, a maker of premium branded wafers and sugar-free specialty cookies, was acquired by Smucker in 2023 through its $5.6 billion acquisition of Hostess Brands.
Smucker’s deal with Brownie Brittle owner Second Nature is the second in the past year. Second Nature paid $34 million to purchase it in 2023. sahara Snacks is a company that manufactures fruit and snack mixes.
Like other food and beverage companies, Smucker has been changing its portfolio to fuel growth and increase focus on its core brands, including Uncrustables, Hostess and Cafe Bustelo. In addition to selling sahara Snacks, Smucker sold its seasoning brand to TreeHouse Foods and several pet food products to Post Holdings.
