The J.M. Smucker Co. Announces Agreement To Divest Voortman Brand As Part Of Continued Portfolio Optimization; The All-Cash Transaction Is Valued At ~$305M
Portfolio Pulse from Benzinga Newsdesk
The J.M. Smucker Co. (NYSE:SJM) is selling its Voortman cookie brand to Second Nature Brands for approximately $305 million in an all-cash transaction. This move is part of Smucker's strategy to optimize its portfolio and focus on core growth brands.
October 22, 2024 | 1:22 pm
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J.M. Smucker Co. is divesting its Voortman cookie brand for $305 million to focus on core growth brands. This strategic move is part of its portfolio optimization efforts.
The sale of the Voortman brand allows J.M. Smucker Co. to reallocate resources to its core growth brands, which is likely to be viewed positively by investors. The all-cash nature of the transaction provides immediate liquidity, and the strategic focus on core brands could enhance long-term growth prospects.
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