TreeHouse Completes Acquisition of Sturm Foods
March 02 2010 - 4:30PM
PR Newswire (US)
WESTCHESTER, Ill., March 2 /PRNewswire-FirstCall/ -- TreeHouse
Foods, Inc. announced today that it has completed its previously
announced acquisition of Sturm Foods, Inc. for $660 million,
excluding adjustments for working capital and other items.
TreeHouse financed the acquisition through the closing of its
previously announced offerings of $400 million in aggregate
principal amount of 7.750% senior notes due 2018 and 2,702,500
shares of common stock (including the exercise in full of the
over-allotment option) at a price of $43.00 per share. TreeHouse
financed the remainder of the purchase price under its existing
revolving credit facility. 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. DATASOURCE: TreeHouse Foods, Inc. CONTACT: Investor
Relations, +1-708-483-1300, ext. 1331 Web Site:
http://www.treehousefoods.com/
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