The deal was an all-cash transaction of about $305 million (subject to a working capital adjustment), the announcement noted. It includes all Voortman trademarks, the company’s leased processing facility in Burlington, Ont., Canada, and about 300 employees who are expected to transition with the business.
Smucker also updated its full-year fiscal 2025 net sales guidance in response to the divestiture, with net sales anticipated to increase 7.5 to 8.5 percent compared to the prior year. This reflects the removal of approximately $65 million of divested net sales in 2025. On a comparable basis, net sales is expected to increase 1 to 2 percent, excluding non-comparable sales in the current year from the Hostess Brands acquisition and non-comparable sales in the current year from the Voortman, Canada condiment and Sahale Snacks divestitures.
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.
