J.M. Smucker Co. will sell Voortman as a part of its shift to sweet baked snacks strategy
J.M. Smucker Co. has agreed to sell its Voortman cookie brand to Second Nature Brands, a U.S.-based creator of 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 by J.M. Smucker Co. to divest the brand reflects its portfolio and resource reallocation goals.
The agreement includes all Voortman trademarks and the company's leased manufacturing facility in Burlington, Ontario, Canada. In addition, approximately 300 employees will transition with the business.
"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,” said Mark Smucker, chair of the board, president and chief executive officer.
The company also confirmed continued progress on the integration of Hostess Brands, including the successful completion of systems integration earlier this month. The company says it remains on track to achieve expected synergies of $100 million from the acquisition by the end of fiscal year 2026.
The Voortman brand generated net sales of approximately $65 million for J.M. Smucker Co.’s fiscal year ended April 30, 2024, which represents a partial year of net sales reported in its Sweet Baked Snacks segment results following its acquisition on November 7, 2023. For fiscal year 2025, the company anticipates full-year net sales from the Voortman brand to be approximately $150 million.
