Oak Brook, Ill.-based TreeHouse Foods Inc (NYSE: THS) has completed its buy of Associated Brands, a manufacturer and supplier of private-label dry blend food and household products, for $187 million. The seller in the transaction was Canadian private equity firm TorQuest Partners, which invested in the Mississauga, Ontario-based Associated Brands in 2005, and took the company private in 2007. Canadian law firm Torys LLP advised TorQuest on the TreeHouse purchase. TorQuest was profiled by peHUB Canada following last month’s $535 million final close of TorQuest Partners Fund III.
TreeHouse Foods, Inc. Completes Acquisition of Associated Brands
OAK BROOK, Ill., Oct. 8, 2013 /PRNewswire/ — TreeHouse Foods, Inc. (NYSE: THS) today reported its completion of the previously announced acquisition of Associated Brands, a leading private label manufacturer of powdered drinks, specialty teas and sweeteners from TorQuest Partners and other shareholders. Associated Brands had sales of approximately $200 million for the twelve months ended June 30, 2013. TreeHouse paid CAD $187 million (approximately US $180 million) in cash for the business, subject to an adjustment for working capital.
ABOUT ASSOCIATED BRANDS
Associated Brands is a leading North American manufacturer and supplier of private label packaged food products that sells to almost all of the 50 largest North American food retailers. Associated Brands’ principal focus is on manufacturing dry packaged food products such as flavored drink mixes, specialty tea, hot chocolate drinks, dessert mixes, soups, bouillon, side dishes, sweeteners and oatmeal, in addition to nutritional and weight management products. Associated Brands has grown to become one of the largest suppliers of a diverse range of private label dry packaged food products in North America. To learn more about Associated Brands, visit www.associatedbrands.com.
ABOUT TREEHOUSE FOODS
TreeHouse is a food manufacturer servicing primarily the retail grocery and foodservice distribution channels. Our products include non-dairy powdered creamers, private label canned soups, refrigerated and shelf stable salad dressings and sauces, powdered drink mixes and single serve hot beverages, hot cereals, macaroni and cheese, skillet dinners, Mexican sauces, jams and pie fillings, pickles and related products, aseptic sauces, and liquid non-dairy creamer. TreeHouse believes it is the largest manufacturer of pickles and non-dairy powdered creamer in the United States and the largest manufacturer of private label salad dressings, powdered drink mixes and instant hot cereals in the United States and Canada based on sales volume. To learn more about TreeHouse Foods visit www.treehousefoods.com.
SOURCE TreeHouse Foods, Inc.
CONTACT: Investor Relations, 708.483.1300, ext. 1331
Web site: http://www.treehousefoods.com
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