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.”
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The acquisition of Sahale Snacks follows Second Nature Brands’ purchase of Brownie Brittle in December 2022 and forms part of the company’s plans to accelerate the growth of its business and improve its position in the snacks and treats category.
Headquartered in Michigan, Second Nature Brands has a portfolio of brands including Kar's Nuts trail mix; Second Nature Snacks natural, non-GMO-verified premium snacks and trail mixes; Sanders kettle-cooked sea salt caramels; and Brownie Brittle thin brownie snack.
Commenting on the deal, Victor Mehren, CEO of Second Nature Brands, says, “Sahale Snacks adds a fantastic super-premium product to our range, considerably broadens our snack mix & nut portfolio, and unlocks significant new opportunities for us to help grow the category, which we are very excited about.”