J.M. Smucker completes the sale of fermented condiment brands to TreeHouse Foods

The J.M. Smucker Co. announced the closing of 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 USD, subject to a working capital adjustment.

The company previously announced the signing of a definitive agreement for the transaction on October 17, 2023.

The company expects the impact of the divestiture to be immaterial to its adjusted earnings per share on a full-year basis. The company will provide additional information about the transaction’s impact on its fiscal year 2024 outlook during the next quarterly earnings call.