Second Nature Brands, which is owned by investment fund CapVest, has announced the acquisition of Sahale Snacks from The J.M. Smucker Co., for a total consideration of $34 million (€32.17 million).
Sahale Snacks produces a range of premium nut and fruit snack mixes, which it sells under its own brand in the United States. The company reported net sales of more than $48 million (€45.4 million) last year.
Under the terms of the transaction, Second Nature Brands will acquire all trademarks, as well as the Sahale Snacks leased manufacturing facility in Seattle, Washington. Some 100 employees are to transition to Second Nature Brands once the deal is completed.
The latest acquisition comes just a few months on from Michigan-based Second Nature Brands' acquisition of Brownie Brittle in December 2022, and the company has 'ambitious plans to significantly accelerate the growth of the business and position Second Nature Brands as a US leader in snacks and treats', it said in a statement.
'A Welcome Addition'
“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," said Victor Mehren, CEO of Second Nature Brands.
"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 expected to close in the third quarter of The J.M. Smucker Co's fiscal year, which ends on April 30 next year, subject to customary closing conditions.
Second Nature Brands owns brands including Kar’s Nuts, Second Nature Snacks, Sanders and its most recent acquisition, Brownie Brittle.
