The J.M. Smucker Co., Orrville, Ohio, has entered into a definitive agreement to sell its Voortman cookie brand to Second Nature Brands, a U.S.-based creator of premium snacks and treats controlled by CapVest Partners LLP.
The all-cash transaction is valued at approximately $305 million, subject to a working capital adjustment. The decision reflects Smucker’s continued commitment to optimize its portfolio and reallocate resources to its core growth brands, the company said.
The transaction includes all Voortman trademarks and its leased manufacturing facility in Burlington, Ontario, Canada, where it is based. In addition, approximately 300 employees will transition with the business.
Second Nature Brands is based in Madison Heights, Michigan, and owns a growing portfolio of brands including Kar's Nuts, Second Nature Snacks and Sahale Snacks.
The acquisition follows Second Nature Brands' purchase of Sahale Snacks in September 2023 and Brownie Brittle in December 2022.
“This decision reflects our continued commitment to portfolio and resource optimization to focus on our largest growth opportunities as a company,” said Mark Smucker, chair of the board, president and CEO of J.M. Smucker Co. “The divestiture of the Voortman brand is an important step in our integration plans that will enable the execution of our sweet baked snacks strategy through dedicated focus and ongoing investments in the Hostess brand, advancing our leadership in the sweet baked goods category. I want to recognize and thank the many talented teams who have supported this brand.”
J.M. Smucker Co. also confirmed continued progress on the integration of Hostess Brands, including the completion of systems integration earlier this month and that it remains on track to achieve expected synergies of $100 million from the acquisition by the end of fiscal year 2026.
The transaction is anticipated to close in the third quarter of the company's current fiscal year ending April 30, 2025, subject to customary closing conditions including the receipt of required regulatory approvals.
Orrville, Ohio-based Smucker's offer consumer products in the coffee, consumer foods, dog snacks and cat food categories under brands including Folgers, Dunkin’, Café Bustelo, Jif, Smucker’s Uncrustables, Smucker’s, Milk-Bone and Meow Mix.
Second Nature Brands, Detroit, is a better-for-you snacks and treats maker, offering brands such as Kar’s Nuts, Second Nature Snacks and Sanders Chocolates.
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