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US-based food and beverage company JM Smucker has announced that the company is selling its Voortman biscuit brand to Second Nature Brands, a US manufacturer of snacks and treats controlled by CapVest Partners LLP.
In a press release, JM Sumcker said the decision to offload Voortman would enable it to reallocate resources to its “core growth brands”.
The Voortman brand was among a number that JM Smucker acquired as part of its purchase of Hostess Brands in 2023.
The deal, valued at approximately $305 million, is said to include all Voortman trademarks and leased manufacturing facilities in Burlington, Canada.
Mark Smucker, chair of the board, president and chief executive officer, said: “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”.
Approximately 300 JM Smucker employees will transition with the business, according to the manufacturer.
Source: JM Smucker
