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The J. M. Smucker Co., Orrville, OH, has signed a definitive agreement on Aug. 6 to acquire Sahale Snacks Inc. The Seattle-based company that manufactures and markets premium, branded nut and fruit snacks that are primarily sold in the U.S. under the Sahale Snacks brand.
Sahale’s net sales are projected to be approximately $50 million for the 2014 calendar year, primarily in the club, convenience and grocery retail channels. The acquisition includes a leased facility in Seattle and will add approximately 150 employees to The J. M. Smucker Co. The transaction, which is expected to close by mid-September, is not anticipated to have a material impact on its fiscal 2015 financial results.
“This is an exciting acquisition and an excellent strategic fit for our company,” says Paul Smucker Wagstaff, president, U.S. retail consumer foods. “The addition of the Sahale Snacks premium lifestyle brand, and its portfolio of innovative and on-trend products, provides an established platform for growth in the snacking space.”
Eric Eddings, Sahale's current CEO, adds, “Sahale Snacks co-founders, Josh Schroeter and Edmond Sanctis, and I are proud to join the Smucker family, and we look forward to the continued growth of the Sahale Snacks brand as we maintain our focus on our mission of bringing Beyond Ordinary snacking to consumers' daily lives.”
Sahale has been a portfolio company of a private-equity fund affiliated with Palladium Equity Partners LLC since 2007.
Source: The J. M. Smucker Co., PRNewswire