JTM Foods to acquire Cloverhill and Big Texas brands from The J.M. Smucker for $40m.

JTM Foods, a food producer, agreed to acquire Cloverhill and Big Texas brands from J.M. Smucker, a manufacturer of food and beverage products, for $40m. "This divestiture reflects our continued commitment to portfolio optimization to prioritize resources to support the execution of our Sweet Baked Snacks strategy, focused on growing the Hostess brand, and advancing our leadership in the sweet baked goods category," Dan O'Leary, Sweet Baked Snacks and Pet (JTM Brand) Senior Vice President and General Manager.