Second Nature Brands, a Michigan-based processor of snacks and treats, has agreed to acquire Sahale Snacks from The J.M. Smucker Co. for $34 million, according to a release from the company.
Sahale produces premium, branded nut and fruit snack mixes sold in the U.S. and abroad, with net sales of more than $48 million. The transaction includes all trademarks and the Sahale Snacks brand, and also includes Sahale’s leased processing facility in Seattle, Wash., where approximately 100 employees will be retained and transition to Second Nature Brands employment upon completion of the deal.
Second Nature Brands was created in early 2021, apparently by Palladium Equity Partners LLC, as an acquisition platform for its initial products and brands: Kar’s Nuts, Second Nature Snacks and Sanders Chocolates. Palladium sold it to CapVest Partners in April 2022, and at the end of that year Second Nature acquired Brownie Brittle (originally Sheila G’s) from Encore Consumer Capital.
Interestingly, Edmond Sanctis became chairman of Second Nature’s board of directors in early 2021. He was the co-founder, chairman and CEO of Sahale Snacks.
The transaction is expected to close in the third quarter of The J.M. Smucker Co.’s current fiscal year, which ends April 30, 2024.