ORRVILLE, Ohio -- The J. M. Smucker Co. has signed an agreement to acquire Sahale Snacks Inc., a leading manufacturer and marketer of premium, branded nut and fruit snacks, which it sells in the United States primarily under the Sahale Snacks brand.
Sahale's net sales are projected to be approximately $50 million for the 2014 calendar year, primarily in the club, convenience store, and grocery retail channels. The acquisition includes a leased facility in Seattle, where the privately held company is based, and will add approximately 150 employees to the company.
"This is an exciting acquisition and an excellent strategic fit for our company," said Paul Smucker Wagstaff, president of U.S. retail consumer foods. "The addition of the Sahale Snacks premium lifestyle brand, and its portfolio of innovative and on-trend products, provides an established platform for growth in the snacking space."
Eric Eddings, Sahale's current CEO, said, "Sahale Snacks co-founders, Josh Schroeter and Edmond Sanctis, and I are proud to join the Smucker family, and we look forward to the continued growth of the Sahale Snacks brand as we maintain our focus on our mission of bringing 'Beyond Ordinary' snacking to consumers' daily lives."
Sahale has been a portfolio company of a private-equity fund affiliated with Palladium Equity Partners LLC since 2007.
The company does not expect the transaction, which it expects will close by the middle of September, to have a material impact on its fiscal 2015 financial results.
For more than 115 years, Smucker is a leading marketer and manufacturer of fruit spreads, retail packaged coffee, peanut butter, shortening and oils, ice cream toppings, sweetened condensed milk and natural foods products in North America. Its family of brands includes Smucker's, Folgers, Dunkin' Donuts, Jif, Crisco, Pillsbury, Eagle Brand, R.W. Knudsen Family, Hungry Jack, Café Bustelo, Café Pilon, truRoots, White Lily, and Martha White in the United States, along with Robin Hood, Five Roses, Carnation and Bick's in Canada.
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