Second Nature Brands Acquires Voortman From Smucker

The M&A pipeline between The J.M. Smucker Company and Second Nature Brands just got slightly sweeter.

The J.M. Smucker Company today announced an agreement to sell low-sugar confections brand Voortman Bakery to Second Nature Brands in a deal valued at approximately $305 million. The all-cash transaction is expected to close in Q3 of Smucker’s fiscal year, which ends in April 2025.

The deal includes all Voortman trademarks as well as its leased manufacturing facility in Ontario, Canada; Second Nature will also welcome about 300 employees following the close of the transaction. The news comes a year after Voortman first came under Smucker’s wing following its $5.6 billion acquisition of Hostess Brands.

According to Mark Smucker, chairman of the board, president and CEO, the divestment signals Smucker’s continued commitment to optimizing its portfolio and allocating resources to its “core growth brands.” The deal also comes a year after Smucker sold nut snack brand Sahale Snacks to Second Nature for $34 million.

“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,” Smucker said in a press release. “I want to recognize and thank the many talented teams who have supported this brand.”

Of the 11 brands Smucker brought in with the Hostess deal, which included Twinkie, Ho-Ho, and Ding-Dongs, Voortman represented the only better-for-you positioned product. The announcement today signals that the company sees its future growth driven by Uncrustables frozen sandwiches and sweet baked snacks as well as its coffee platform.

For Voortman’s acquirer, the deal marks the continued expansion of its portfolio deeper into the better-for-you snacking realm which also included picking up Brownie Brittle in 2022. The previously nut-snack-focused parent company, which itself was acquired by CapVest Partners in 2022, will likely unlock synergies between Brownie Brittle and Voortman as it builds out its low sugar, crispy baked goods platform.

Second Nature, which also owns small-batch, kettle-cooked sea salt caramels brand Sanders, trail mix brand Kar’s Nuts and snack mix line Second Nature Snacks, said the deal also better positions it within the specialty cookie category and Canadian market.

According to a press release, Voortman generated approximately $65 million in net sales between November 7, 2023 and April 30, 2024. Smucker anticipates that full-year net sales from the Voortman brand will be approximately $150 million.

“We are excited to welcome the Voortman brand and team to the Second Nature Brands family,” said Victor Mehren, CEO of Second Nature Brands, in a press release. “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 U.S. and Canada.”