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Smucker tastes growth with ‘nutty’ acquisition
The J.M. Smucker Company has gained entry to a new business segment with the acquisition of privately held Sahale Snacks.
Smucker said it reached an agreement with Seattle-based Sahale to acquire the supplier of nut and fruit snacks to warehouse clubs, convenience stores and grocery retailers. Sahale’s annual sales of $50 million won’t have a material impact on Smucker, whose annual sales last year were $5.6 billion, but the deal does extend Smucker’s reach into new product categories.
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Rainbow biz exit pushes Roundy’s to net loss in second quarter
Costs related to the exit of its Rainbow business in the Twin Cities markets, as well as the upcoming closure of a distribution center, helped push Roundy’s to a net loss of $13.5 million in the second quarter of fiscal 2014.
Net income for the quarter was $11.6 million, while net sales from continuing operations for second quarter 2014 were $971.9 million, an increase of 12% from $868.3 million for second quarter 2013. Same-store sales dropped 2.2%.
Ginger — and packaged in an on-the-go bacon jerky pouch.