J.M. Smucker Co. (SJM) to Acquire Nut and Fruit Snack Manufacturer, Sahale Snacks

J.M. Smucker Co. (NYSE: SJM) announced the signing of a definitive agreement to acquire Sahale Snacks, Inc. ("Sahale"), a privately-held company headquartered in Seattle, Washington. Sahale is a leading manufacturer and marketer of premium, branded nut and fruit snacks, which are primarily sold in the United States under the Sahale Snacks® brand.

Sahale's net sales are projected to be approximately $50 million for the 2014 calendar year, primarily in the club, convenience, and grocery retail channels. The acquisition includes a leased facility in Seattle, Washington, and will add approximately 150 employees to the Company. The transaction, which is expected to close by the middle of September, is not anticipated to have a material impact on the Company's fiscal 2015 financial results.

"This is an exciting acquisition and an excellent strategic fit for our Company," said Paul Smucker Wagstaff, President, U.S. Retail Consumer Foods. "The addition of the Sahale Snacks® premium lifestyle brand, and its portfolio of innovative and on-trend products, provides an established platform for growth in the snacking space."

Eric Eddings, Sahale's current Chief Executive Officer, said, "Sahale Snacks co-founders, Josh Schroeter and Edmond Sanctis, and I are proud to join the Smucker family and we look forward to the continued growth of the Sahale Snacks® brand as we maintain our focus on our mission of bringing Beyond OrdinaryTM snacking to consumers' daily lives." Sahale has been a portfolio company of a private equity fund affiliated with Palladium Equity Partners, LLC since 2007.

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