J.M. Smucker has entered into a definitive agreement to sell its Sahale Snacks brand for approximately $34 million to Second Nature Brands, a manufacturer and marketer of premium, branded nut and fruit snack mixes sold across the U.S. and internationally. The all-cash deal will include all trademarks and Smucker’s leased manufacturing facility in Seattle, Wash. The transaction is expected to close in the third quarter of Smucker’s current fiscal year ending April 30, 2024, subject to customary closing conditions.
“This divestiture reflects our continued commitment to portfolio and resource optimization to sharpen our focus and support continued growth,” says 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.”
