TreeHouse Prices $400 Million of Senior Notes to Fund Sturm Foods Acquisition
February 19 2010 - 6:01PM
PR Newswire (US)
WESTCHESTER, Ill., Feb. 19 /PRNewswire-FirstCall/ -- TreeHouse
Foods, Inc. (NYSE:THS) announced today that it priced an
underwritten public offering of $400 million in aggregate principal
amount of 7.750% senior notes due 2018. TreeHouse will use the net
proceeds of the notes offering to fund, in part, the previously
announced and pending acquisition of Sturm Foods, Inc. The notes
offering and the acquisition are expected to close concurrently on
March 2, 2010, subject to market and other conditions. BofA Merrill
Lynch and Wells Fargo Securities, LLC are acting as joint
book-running managers for the notes offering. TreeHouse is making
the offering pursuant to a shelf registration statement filed with
the Securities and Exchange Commission on February 16, 2010, which
has been declared effective, and a prospectus supplement to
TreeHouse's prospectus, dated February 16, 2010, filed with the
shelf registration statement. A final prospectus supplement
relating to the offering will be filed with the Securities and
Exchange Commission. Copies of the prospectus and prospectus
supplement relating to the offering may be obtained from BofA
Merrill Lynch, Attention: Prospectus Department, 100 West 33rd
Street, 3rd Floor, New York, NY 10001 (1-800-294-1322 or ) or Wells
Fargo Securities, LLC, Attention: High Yield Capital Markets, One
Wachovia Center, 301 South College Street, Charlotte, NC
28288?0604. TreeHouse has filed a registration statement (including
a prospectus and a preliminary prospectus supplement dated February
16, 2010) with the Securities and Exchange Commission for the
offering to which this communication relates. Before you invest,
you should read the prospectus in that registration statement and
other documents TreeHouse has filed with the Securities and
Exchange Commission for more complete information about TreeHouse
and the offerings. You may get these documents for free by visiting
EDGAR on the SEC Web site at http://www.sec.gov/. Alternatively,
TreeHouse, any underwriter or any dealer participating in the
offerings will arrange to send you the relevant prospectus, when
available, if you request it by calling TreeHouse's Investor
Relations department at 708-483-1300 Ext 1331. This press release
does not constitute an offer to sell, or the solicitation of an
offer to buy, any securities of TreeHouse, nor will there be any
sale of securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification. 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.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS This press release
contains "forward-looking statements." Forward-looking statements
include all statements that do not relate solely to historical or
current facts, and can generally be identified by the use of words
such as "may," "should," "could," "expects," "seek to,"
"anticipates," "plans," "believes," "estimates," "intends,"
"predicts," "projects," "potential" or "continue" or the negative
of such terms and other comparable terminology. These statements
are only predictions. The outcome of the events described in these
forward-looking statements is subject to known and unknown risks,
uncertainties and other factors that may cause TreeHouse's or its
industry's actual results, levels of activity, performance or
achievements to be materially different from any future results,
levels of activity, performance or achievement expressed or implied
by these forward-looking statements. TreeHouse's Form 10-K for the
year ended December 31, 2009 and the prospectus (including any
prospectus supplements) related to the offerings discuss some of
the factors that could contribute to these differences. You are
cautioned not to unduly rely on such forward-looking statements,
which speak only as of the date made, when evaluating the
information presented in this presentation. TreeHouse expressly
disclaims any obligation or undertaking to disseminate any updates
or revisions to any forward-looking statement contained herein, to
reflect any change in its expectations with regard thereto, or any
other change in events, conditions or circumstances on which any
statement is based.
http://www.newscom.com/cgi-bin/prnh/20050726/CGTREELOGO
http://photoarchive.ap.org/ DATASOURCE: TreeHouse Foods, Inc.
CONTACT: Investor Relations of TreeHouse Foods, Inc.,
+1-708-483-1300, ext. 1331 Web Site: http://www.treehousefoods.com/
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