Second Nature Brands, a US snack and confectionery brand owner, has announced the acquisition of nut and fruit snack mix maker Sahale Snacks from JM Smucker for a total consideration of $34 million.
Sahale Snacks has net sales of $48 million and sell its products across the US and internationally under its namesake brand. The transaction will include all trademarks, as well as a leased manufacturing facility in Seattle(WA).
The existing Second Nature Brands portfolio includes Kar’s Nuts, Second Nature Snacks, Sanders, and Brownie Brittle.
Commenting on the deal, Second Nature Brands CEO Victor Mehren said: “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. 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”.
Source: Second Nature Brands (via PR NewsWire)