Second Nature Brands, the U.S.-based creator of premium, nutritional and better-for-you snacks and treats, has agreed to acquire Sahale Snacks from The J.M. Smucker Co., for a total consideration of $34 million.
With net sales of more than $48 million, Sahale is a leading manufacturer and marketer of premium, branded nut and fruit snack mixes, sold across the U.S. and internationally under the Sahale Snacks brand. 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 leading brands including: Kar's Nuts, a leading trail mix on-the-go fueling snack brand; Second Nature Snacks, a pioneer in natural, non-GMO-verified premium snacks and trail mixes created for a healthy, on-the-go lifestyle; Sanders, a leader in premium, small-batch, kettle-cooked sea salt caramels, and; Brownie Brittle, a thin brownie snack.
According to the announcement, 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 significantly accelerate the growth of the business and position Second Nature Brands as a U.S. leader in snacks and treats.
"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, Victor Mehren, CEO of Second Nature Brands, said in the announcement. “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 April 30, 2024, subject to customary closing conditions.