JM Smucker, the US-based food and beverage company, has announced that it has come to an agreement to sell its Bick’s pickles, Habitant pickled beets, Woodman’s horseradish, and McLarens pickled onions brands to private label specialist TreeHouse Foods.
The brands included in the transaction generated net sales of approximately $60 million for JM Smucker’s fiscal year ended April 2023.
Tim Wayne, JM Smucker senior vice president & general manager, commented: “This decision will allow us to enhance focus on growing our position in the coffee, spreads, frozen handheld and pet categories in Canada with leading and emerging brands such as Folgers®, Smucker’s®, Jif®, Smucker’s® Uncrustables®, Meow Mix® and Milk-Bone®, and supporting continued leadership in the baking category with our Robin Hood®, Five Roses®, Carnation® and Eagle Brand® brands”.
Steve Oakland, chairman, CEO, and president of TreeHouse Foods added: “This acquisition of assets is consistent with our strategy and enhances TreeHouse Foods’ depth in our growing pickles category, allowing us to expand into Canada and thus positioning TreeHouse for continued success”.
The transaction, which is valued at around $20 million, is expected to close in the third quarter of fiscal 2024.
Source: JM Smucker