- Private-label food manufacturer TreeHouse Foods Inc. will expand its product line by buying Protenergy Natural Foods for $150 million.
- Protenergy makes private-label soups, broths and gravies. TreeHouse makes a wide variety of products, including canned soups, pickles, salad dressings, and nondairy creamer, most of which are sold under private labels to retailers and foodservice customers.
- The purchase comes as TreeHouse, based in Oakbrook, Ill., announced a 15% rise in sales in the first quarter.
TreeHouse's chief executive officer said that part of the reasoning behind the purchase was that it would give the company a full range of soup products -- both wet and dry.
But far more importantly, Protenergy has considerable expertise in aseptic processing and Tetra packaging: something TreeHouse needs if it's to transition beyond cans.