The J.M. Smucker Co. (SJM) 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 (THS). The all-cash transaction is valued at approximately $20M, 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.
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