09:48 AM EDT, 10/22/2024 (MT Newswires) -- J.M. Smucker (SJM) said Tuesday that it has agreed to sell its Voortman cookie brand to Second Nature Brands for $305 million in cash.

The deal, expected to be completed in fiscal Q3, includes Voortman trademarks and a leased manufacturing facility of the company in Ontario, Canada, with around 300 employees transitioning, Smucker said.

Smucker said it plans to use proceeds to reduce debt.

Smucker shares were down more than 1% in recent early trading.

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