TreeHouse Foods to acquire ConAgra Foods’ private brands operations
TreeHouse Foods, Oak Brook, IL, has signed a definitive agreement to acquire Omaha, NE-based ConAgra Foods’ private brands operations. Annual sales of the combined entity will be nearly $7 billion. The transaction is valued at $2.7 billion, and closing is anticipated in the first quarter of 2016.
Acquisition of ConAgra’s private brands operations will expand TreeHouse’s presence in private label dry and refrigerated grocery. The private brands operations had sales of approximately $3.6 billion for the 12 months ended May 31, 2015. Following the acquisition, TreeHouse will have pro forma sales of nearly $7 billion and adjusted EBITDA of approximately $690 million. Upon closing, TreeHouse will have more than 50 manufacturing facilities and more than 16,000 employees.