US snack company Second Nature Brands has agreed to acquire Sahale Snacks from The J.M. Smucker Co., for a total consideration of $34 million.
Sahale is a manufacturer of premium, branded nut and fruit snack mixes, sold across the US and internationally under the Sahale Snacks brand, with net sales of more than $48 million.
Second Nature Brands will acquire the snack manufacturer from The J.M. Smucker Co., which agreed to acquire Hostess Brands in September.
The transaction will include all trademarks, as well as the Sahale Snacks leased manufacturing facility in Seattle, Washington. Approximately 100 employees will transition to Second Nature Brands on completion of the deal.
Headquartered in Michigan, Second Nature Brands owns a growing portfolio of brands including: Kar’s Nuts, Second Nature Snacks, Sanders and Brownie Brittle.
The acquisition of Sahale Snacks follows Second Nature Brands’ purchase of Brownie Brittle in December 2022 and forms part of the Company’s plans to accelerate the growth of the business and position Second Nature Brands as a US leader in snacks and treats.
Commenting on the deal, Victor Mehren, CEO of Second Nature Brands, 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.”
The transaction is anticipated to close in the third quarter of The J.M. Smucker Co. current fiscal year, ending 30th April 2024, subject to customary closing conditions.
