The J.M. Smucker Co. has agreed to sell Canadian cookie brand Voortman to Second Nature Brands, a US-based creator of premium snacks and treats controlled by CapVest Partners LLP, in a deal valued at approximately $422 million (US$305 million). This is the fourth time since 2015 that Voortman is being sold.

Blake, Cassels & Graydon LLP is serving as the legal counsel and Goldman Sachs & Co., LLC as the financial advisor to Smucker.

Smucker acquired Voortman in 2023 as part of its US$5.6 billion takeover of Hostess Brands. Hostess had purchased Voortman in 2019 from private equity company Swander Place Capital for US$320 million.

“This decision reflects our continued commitment to portfolio and resource optimization to focus on our largest growth opportunities as a Company," said Smucker Chair of the Board, President and CEO Mark Smucker. “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 ongoing investments in the Hostess® brand, advancing our leadership in the sweet baked goods category.”

The deal is expected to close in the third quarter of Smucker’s current fiscal year ending April 30, 2025, subject to customary closing conditions and regulatory approvals.