J.M. Smucker to sell Sahale Snacks to Second Nature Brands
By Ben Glickman
J.M. Smucker (SJM) will sell its Sahale Snacks brand to Second Nature Brands for $34 million in cash.
The Orrville, Ohio-based food company said the divestiture would include all trademarks, as well as Smucker's leased manufacturing facility in Seattle. The 100 employees associated with the facility will transition to Second Nature Brands.
Sahale Snacks generated $48 million in sales in the year ended April 30, according to Smucker.
The transaction, expected to close in the third quarter of Smucker's fiscal year, isn't seen having a material impact on adjusted earnings for the year.
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09-27-23 1926ET
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