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J.M. Smucker Selling Sahale Snacks for $34M
The divestiture comes two weeks after Smucker announced plans to buy Hostess Brands.
Powder Bulk Solids Staff
September 28, 2023
1 Min Read
The food giant now has two major deals closing in its third quarter fiscal year. The divestiture comes on the heels of Smucker's agreement to purchase Hostess Brands.Image courtesy of The J.M. Smucker Co.
J.M. Smucker will sell its Sahale Snacks brand to Second Nature Brands, a U.S.-based creator of premium, nutritional snacks and treats for $34 million in cash. The food giant said it wants to sharpen focus and support continued growth in its Consumer Foods. Business.
The Orrville, OH-based food company said the divestiture would include all trademarks, as well as Smucker's leased manufacturing facility in Seattle, WA. The 100 employees of the facility will transition to Second Nature Brands.
"This divestiture reflects our continued commitment to portfolio and resource optimization to sharpen our focus and support continued growth," said Mark Smucker, chair of the Board, president and chief executive officer, The J.M. Smucker Co. "The divestiture of the Sahale Snacks brand will support continued growth in our Consumer Foods business with enhanced investment in our Smucker's Uncrustables brand and building on our leadership in spreads."
Sahale Snacks, which produces fruit and snack mixes, generated $48 million in sales in year ending April 30, 2023, according to Smucker.
The transaction is expected to close in the third quarter of Smucker's fiscal year, which ends in April 2024.
Smucker just announced two weeks ago that it was purchasing Hostess Brands for $5.6 billion . This deal expects to close in the food company's third quarter as well.
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