Market Overview

TreeHouse Foods, Inc. Announces Expiration of HSR Waiting Period for the Acquisition of ConAgra's Private Brand Operations


TreeHouse Foods (NYSE: THS) announced today that the required waiting period has expired under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 ("HSR") in connection with the Company's previously announced acquisition of ConAgra Foods' (NYSE: CAG) private brands business. TreeHouse Foods today also announced that it has received an Advance Ruling Certificate from the Competition Bureau Canada per the Canadian Competition Act regarding the proposed acquisition. The expiration of the waiting period under the HSR Act and the Advance Ruling Certificate from the Competition Bureau Canada satisfy the two governmental approval conditions to the closing of the transaction.

As announced on November 2, 2015, TreeHouse will meaningfully expand its presence in private label dry and refrigerated grocery through the private brands acquisition. The purchase price of $2.7 billion and related transaction expenses are expected to be funded by a combination of $1.8 billion in new debt issuance and approximately $1.0 billion in equity stock issuance. TreeHouse has entered into a committed financing arrangement with certain lenders as a backup for the required financing.

TreeHouse Foods expects to market its equity and high yield offerings on a basis that permits a closing of the transaction in mid-February.

Lastly, the Company announced that it will host a live audio webcast of its fourth quarter earnings results conference call on Thursday, February 11, 2016 at 9:00 a.m. EST. Management will discuss the results for the fourth quarter 2015, the full year and its outlook for 2016. An earnings release will be issued before the market opens on the same date. The Webcast will last approximately one hour and will be accessible by visiting and by clicking on "Investor Relations," "Investor Overview."

In order to listen to the Webcast, users will need to have installed either Real Player or Windows Media Player software, which can be detected and downloaded by visiting the site. A Webcast replay will be available for one year following the event within the "Investor Relations," "Earnings Call Archives" section of the Company's website.

Posted-In: News Press Releases


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