TreeHouse Foods Announces Acquisition of Naturally Fresh for $25M
TreeHouse Foods, Inc. (NYSE: THS) today announced it has entered into a definitive agreement to acquire substantially all of the assets of Naturally Fresh, Inc., a privately owned Atlanta, Georgia based maker of refrigerated dressings, sauces, marinades, dips and specialty items in a wide array of packaging sizes. The products manufactured by the Naturally Fresh, Inc. business will be added to each of TreeHouse's segments. Naturally Fresh has annual revenues of approximately $80 million.
TreeHouse has agreed to pay $25 million in cash for the business, subject to an adjustment for working capital. The transaction is expected to have a neutral impact on TreeHouse's earnings in 2012, but is expected to positively impact 2013 earnings by approximately $0.05 per share. The transaction is expected to close within 30 days, subject to satisfaction of customary closing conditions, and will be financed through borrowings under the Company's existing $750 million credit facility.
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