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.
About the Author
Andy Hanacek
Senior Editor
Andy Hanacek has covered meat, poultry, bakery and snack foods as a B2B editor for nearly 20 years, and has toured hundreds of processing plants and food companies, sharing stories of innovation and technological advancement throughout the food supply chain. In 2018, he won a Folio:Eddie Award for his unique "From the Editor's Desk" video blogs, and he has brought home additional awards from Folio and ASBPE over the years. In addition, Hanacek led the Meat Industry Hall of Fame for several years and was vice president of communications for We R Food Safety, a food safety software and consulting company.