Second Nature Brands snaps up Voortman
The company will acquire the brand from J.M. Smucker Co. for $305M.
Courtesy of Second Nature Brands LLC
Second Nature Brands LLC, a portfolio of premium and better-for-you snacks and treats brands, today announced it has entered into a definitive agreement to acquire the Voortman cookie brand from The J.M. Smucker Co. in an all-cash transaction worth $305 million.
Voortman is a manufacturer and marketer of zero-sugar cookies and wafer cookies, sold across the U.S. and Canada under the Voortman Bakery brand. The transaction includes all Voortman trademarks and its leased manufacturing facility in Burlington, Ontario, Canada. In addition, approximately 300 employees will transition with the business.
The decision reflects J.M. Smucker's continued commitment to optimize its portfolio and reallocate resources to its core growth brands, the company says.
The company also confirmed continued progress on the integration of Hostess Brands, including the successful completion of systems integration earlier this month, and that it remains on track to achieve expected synergies of $100 million from the acquisition by the end of fiscal year 2026.
Voortman is a manufacturer and marketer of zero-sugar cookies and wafer cookies, sold across the U.S. and Canada under the Voortman Bakery brand. The transaction includes all Voortman trademarks and its leased manufacturing facility in Burlington, Ontario, Canada. In addition, approximately 300 employees will transition with the business.
A portfolio company of CapVest Partners LLP, Second Nature Brands is headquartered in Michigan and owns a growing portfolio of brands including Kar's Nuts, which produces trail mix snacks; Second Nature Snacks, which makes natural, non-GMO-verified premium snack mixes; Sahale Snacks, of premium glazed nut and fruit mixes; Sanders, purveyor of small-batch, kettle-cooked sea salt caramels, and; Brownie Brittle, a crispy brownie snack.
With now combined annual sales over $500 million, Second Nature Brands’ acquisition of Voortman adds significant size and scale to its portfolio, the brand says. This acquisition follows Second Nature Brands' purchase of Sahale Snacks (also from The J.M. Smucker Co.) in September 2023 and Brownie Brittle in December 2022, further grows Second Nature Brands’ platform of brands in snacks and treats, and better positions the company in the specialty cookies category and the Canadian market.
Commenting on the deal, Victor Mehren, CEO of Second Nature Brands, says, "We are excited to welcome the Voortman brand and team to the Second Nature Brands family. This strategic and transformative acquisition fits perfectly into our better snacking and treating portfolio of brands. The acquisition of Voortman broadens our scale within the cookie category and unlocks new opportunities and capabilities for future growth in the US and Canada.”
"This decision reflects our continued commitment to portfolio and resource optimization to focus on our largest growth opportunities as a company," says Mark Smucker, chair of the board, president, and chief executive officer, The J.M. Smucker Co. "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. I want to recognize and thank the many talented teams who have supported this brand."
The transaction is anticipated to close in the third quarter of The J.M. Smucker Co. current fiscal year, ending April 30, 2025, subject to customary closing conditions. Morgan Stanley & Co. LLC acted as exclusive financial advisor to Second Nature Brands on the transaction.
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