TreeHouse Foods Completes Spin-Off From Dean Foods Company
June 27 2005 - 7:00PM
PR Newswire (US)
TreeHouse Foods Completes Spin-Off From Dean Foods Company CHICAGO,
June 27 /PRNewswire/ -- Today TreeHouse Foods, Inc. (NYSE:THS)
completed its announced spin-off from Dean Foods Company (NYSE:DF)
through a distribution of one share of TreeHouse stock for every
five shares of Dean Foods Company stock held by Dean Foods Company
shareholders on the June 20, 2005 record date. Dean shareholders
will receive cash in lieu of any fractional shares of TreeHouse
common stock resulting from the distribution. TreeHouse expects
that shares of its common stock will begin trading on the New York
Stock Exchange under the symbol "THS" on June 28, 2005. "We are
excited to make our debut as an independent public company," said
Sam K. Reed, Chairman of the Board and Chief Executive Officer of
TreeHouse. "We see extraordinary opportunity for growth in both the
grocery private label and foodservice markets we serve nationally.
We expect shareholder value to be enhanced as we expand our
presence in both markets. Our Bay Valley Foods operating unit,
formerly the Dean Specialty Foods Group, is the ideal platform upon
which to expand in both shelf stable, dry grocery and refrigerated
food products. Our experienced and dedicated workforce of 1,800 is
determined to merit our motto -- 'Supplier of Choice' -- with every
customer we serve." TreeHouse is a food manufacturer servicing
primarily the retail grocery and foodservice channels. Its products
include pickles and related products; non-dairy powdered coffee
creamer; 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 based on sales
volume. Additional information about TreeHouse may be found at the
company's website, http://www.treehousefoods.com/ . 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 the company 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. For further details and a discussion of
these and other risks and uncertainties, please see the company's
registration statement on Form 10, dated June 14, 2005, which is
filed with the Securities and Exchange Commission. You are
cautioned not to unduly rely on such forward-looking statements,
which speak only as of the date made, when evaluation the
information presented in this presentation. The company 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. Contact: E. Nichol McCully Senior Vice
President and Chief Financial Officer (630) 512-0592 DATASOURCE:
TreeHouse Foods, Inc. CONTACT: E. Nichol McCully, Senior Vice
President and Chief Financial Officer of TreeHouse Foods, Inc.,
+1-630-512-0592 Web site: http://www.treehousefoods.com/
http://www.deanfoods.com/
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