J.M. Smucker said on Tuesday it would sell its cookie brand, Voortman, to U.S.-based premium snacks maker Second Name Brands in a $305 million all-cash deal. The Jif peanut butter maker, which was exploring a sale of Voortman in July as reported by Reuters citing sources,

The J.M. Smucker Co. (NYSE: SJM) announced today it has entered into a definitive agreement to sell its Voortman® cookie brand to Second Nature Brands, a U.S.-based creator of premium snacks and treats controlled by CapVest Partners LLP.

Second Nature Brands LLC, a portfolio of better-for-you snacks and treats brands, today (Oct. 22) announced it has an agreement to acquire the Voortman cookie brand from J.M. Smucker Co. Price was $305 million in cash.

MADISON HEIGHTS, MICH. — Second Nature Brands is acquiring the Voortman cookie business from the J.M. Smucker Co. for approximately $305 million. The transaction includes a leased manufacturing plant in Burlington, Ont., and approximately 300 employees who will transition with the business.

J.M. Smucker said on Tuesday it would sell its cookie brand, Voortman, to U.S.-based premium snacks maker Second Name Brands in a $305 million all-cash deal.

J.M. Smucker Co. agreed to sell its Voortman Cookies business to CapVest Partners-controlled Second Nature Brands for $305 million, as the US snack maker looks to focus on its core operations.