WESTCHESTER, Ill., March 2 /PRNewswire-FirstCall/ -- TreeHouse Foods, Inc. (NYSE: THS) announced today that it has completed its previously announced acquisition of Sturm Foods, Inc. for $660 million, excluding adjustments for working capital and other items.
TreeHouse financed the acquisition through the closing of its previously announced offerings of $400 million in aggregate principal amount of 7.750% senior notes due 2018 and 2,702,500 shares of common stock (including the exercise in full of the over-allotment option) at a price of $43.00 per share. TreeHouse financed the remainder of the purchase price under its existing revolving credit facility.
About TreeHouse Foods
TreeHouse is a food manufacturer servicing primarily the retail grocery and foodservice channels. Its products include non-dairy powdered coffee creamer; canned soup, salad dressings and sauces; salsa and Mexican sauces; jams and pie fillings under the E.D. Smith brand name; pickles and related products; infant feeding products; and other food products including aseptic sauces, refrigerated salad dressings, 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 in the United States and Canada based on sales volume.
SOURCE TreeHouse Foods, Inc.
Share this article