TreeHouse Foods selling bakery facilities to Rich Products
TreeHouse Foods, Inc. has announced that it entered into a definitive agreement on January 10 to sell two of its facilities located in Fridley, MN and Lodi, CA to Rich Products Corp. The Fridley and Lodi plants manufacture breads, rolls and cakes for retail in-store bakery (ISB) and foodservice customers. The transaction is subject to customary closing conditions and is expected to close by April 10, 2020. Financial terms of the transaction were not disclosed.
“The sale of the Fridley and Lodi facilities allows us to sharpen our focus at TreeHouse, and importantly, creates an opportunity for these plants to thrive under Rich Products' ownership,” said Steve Oakland, CEO and president, TreeHouse Foods. “We continue to be committed to delivering great customer service within the in-store bakery category through our frosted sugar cookies and Lofthouse branded business.”