J.M. Smucker sells Sahale to Second Nature
By Food in Canada StaffBusiness Operations Bake & Snack Food Editor pick J.M. Smucker Sahale Snacks Second Nature Brands
The J.M. Smucker Co. enters into a definitive agreement to sell its Sahale Snacks brand to Second Nature Brands. The all-cash transaction is valued at approximately US$34 million, subject to a working capital adjustment. The transaction will include all trademarks and the company’s leased manufacturing facility in Seattle, Washington, including about 100 employees who will transition with the business.
“This divestiture reflects our continued commitment to portfolio and resource optimization to sharpen our focus and support continued growth,” said Mark Smucker, CEO, 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. As always, any decision that impacts our employees is only made after careful consideration and I want to thank all who have supported this brand, which has played an important role in our consumer foods portfolio.”
The Sahale Snacks business generated net sales of approximately $48 million for the company during the last fiscal.
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