Second Nature Brands, maker of nutritional snacks and treats, has agreed to acquire Sahale Snacks from The J.M. Smucker Co., for a total consideration of $34 million.
With net sales of more than $48 million, Sahale is a manufacturer and marketer of premium nut and fruit snack mixes, sold across the U.S. and internationally under the Sahale Snacks brand. The transaction will include all trademarks, as well as the Sahale Snacks leased manufacturing facility in Seattle, Washington. Approximately 100 employees will transition to Second Nature Brands upon completion of the deal.
Second Nature Brands owns brands including Kar's Nuts, Second Nature Snacks, Sanders, and Brownie Brittle.
The acquisition of Sahale Snacks follows Second Nature Brands' purchase of Brownie Brittle last December and forms part of the company's plan to accelerate the growth of the business and position Second Nature Brands as a leader in snacks and treats.
"Sahale Snacks adds a fantastic super-premium product to our range, considerably broadens our snack mix & nut portfolio and unlocks significant new opportunities for us to help grow the category, which we are very excited about,” said Victor Mehren, CEO of Second Nature Brands, in a statement. “On completion, we look forward to welcoming 100 new colleagues to the Second Nature Brands team and see significant opportunity to build on their success to date to drive innovation, brand penetration and growth."
The transaction is anticipated to close in the third quarter of The J.M. Smucker Co.'s current fiscal year, ending April 30, 2024, subject to customary closing conditions.
Related: GrubMarket Acquires Mendez International; Kroger Commits to Sourcing More Local Post-Merger.
from Industry Operations https://ift.tt/fnKrNDQ
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