TreeHouse Foods, J.M. Smucker Complete Deal For Four Brands

The J.M. Smucker Co. has completed the transaction to sell its Bick's pickles, Habitant pickled beets, Woodman's horseradish, and McLarens pickled onions brands to TreeHouse Foods, Inc. 

The all-cash transaction is valued at approximately $20 million, subject to a working capital adjustment. The company previously announced the signing of a definitive agreement for the transaction on October 17, 2023.

J.M Smucker expects the impact of the divestiture to be immaterial to its adjusted earnings per share on a full-year basis. The brands included in the transaction generated net sales of approximately $60 million for The J.M. Smucker Co. in its latest fiscal year.

When announcing the deal in October, Steve Oakland, chairman, CEO, and president of TreeHouse, said the acquisition is consistent with the company’s strategy, enhance its growing pickles category that will allow expansion into Canada.