theimpulsivebuy
Smucker May Sell Off Voortman Business: Reuters
Aug. 1, 2024
Reuters has reported that J.M. Smucker may sell its Voortman Bakery business, and a deal for the cookie and wafer brand could bring more than $350 million in value, the news report said, citing “people familiar with the matter.”
Voortman came over to Smucker in the $5.6 billion acquisition of Hostess Brands in 2023, a monstrous move that created an entirely new sweet baked goods business unit for Smucker. Voortman had been acquired by Hostess in 2019 from private equity firm Swander Pace Capital, reportedly for about $320 million.
Recently, Smucker reportedly began working with Goldman Sachs to investigate potential buyers of Voortman, but both Goldman Sachs and Smucker declined to comment to Reuters on the possibility of such a deal.