The J.M. Smucker Co. Announces Agreement to Divest Voortman® Brand as Part of Continued Portfolio Optimization [Yahoo! Finance]
The J.M. Smucker Company (SJM)
Last the j.m. smucker company earnings: 2/26 07:00 am
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US:NYSE Investor Relations:
jmsmucker.com/investor-relations
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Source: Yahoo! Finance
Voortman ® cookie brand to Second Nature Brands, a U.S.-based creator of premium snacks and treats controlled by CapVest Partners LLP. The all-cash transaction is valued at approximately $305 million , subject to a working capital adjustment. The decision reflects the Company's continued commitment to optimize its portfolio and reallocate resources to its core growth brands. The transaction includes all Voortman ® trademarks and the Company's leased manufacturing facility in Burlington, Ontario, Canada . In addition, approximately 300 employees will transition with the business. "This decision reflects our continued commitment to portfolio and resource optimization to focus on our largest growth opportunities as a Company," said Mark Smucker , Chair of the Board, President and Chief Executive Officer. "The divestiture of the Voortman ® brand is an important step in our integration plans that will enable the execution of our Sweet Baked Snacks strategy through dedicated focus and o
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SJM
Earnings
- 8/28/24 - Beat
SJM
Sec Filings
- 11/8/24 - Form SC
- 10/22/24 - Form SC
- 10/3/24 - Form 4
- SJM's page on the SEC website