J.M. Smucker to sell Voortman cookies for $305M
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J.M. Smucker will sell its Voortman cookie brand to Second Nature Brands, a U.S. maker of premium snacks, for $305 million in cash.
The Uncrustables producer said the transaction includes its leased manufacturing facility in Burlington, Ontario. Smucker said about 300 employees will transition with the business. The transaction is expected to close in the third quarter of Smucker’s fiscal year ending April 30.
"This decision reflects our continued commitment to portfolio and resource optimization to focus on our largest growth opportunities as a Company," Mark Smucker, Smucker’s CEO, said in a statement.
The executive added that the divestiture “is an important step in our integration plans” and will allow the company to focus on its Sweet Baked Snacks strategy, highlighted by Hostess.
For fiscal year 2025, Smucker forecast full-year net sales for Voortman of about $150 million.
Voortman, a manufacturer of premium, branded wafers and sugar-free and specialty cookies, was acquired by Smucker as part of its $5.6 billion purchase of Hostess Brands in 2023.
Smucker’s deal with Brownie Brittle owner Second Nature is the second between the pair in the last year. Second Nature paid $34 million in 2023 to buy Sahale Snacks, a maker of fruit and snack mixes.
Similar to other food and beverage companies, Smucker has been making changes to its portfolio to ignite growth and sharpen its focus on its core brands, including Uncrustables, Hostess and Cafe Bustelo. In addition to the divestiture of Sahale Snacks, Smucker has sold condiment brands to TreeHouse Foods and several pet food offerings to Post Holdings.