- TreeHouse Foods, Inc. announced that it will acquire Associated Brands GP Corp. in a deal worth $180 million (CAD $187 million).
- The deal will give TreeHouse a foothold in the specialty tea category, thanks to Associated Brands' private-label dry packaged food products, which also include flavored drink and dessert mixes, soups and oatmeal.
- The Ontario-based acquisition target will bring 650 new employees to TreeHouse, which operates out of Oak Brook, Ill.
From the article:
... Associated Brands had sales of approximately $200 million for the twelve months ended June 30. Following the acquisition, TreeHouse will have pro forma 2013 sales of approximately $2.5 billion and adjusted EBITDA of approximately $350 million. ...