The J.M. Smucker (SJM) Co. announced the closing of the transaction to divest the Voortman business to Second Nature Brands. The company previously announced the signing of a definitive agreement for the transaction on October 22. The all-cash transaction is valued at approximately $305M, subject to a working capital adjustment, and reflects the company’s continued commitment to optimizing its portfolio and reallocating 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.
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