Saturday, August 1st21.7°C
26264
26096

TreeHouse Foods buying private-label snacks company Flagstone Foods for $860M

OAK BROOK, Ill. - TreeHouse Foods is buying Flagstone Foods for $860 million as a way to gain access to the growing healthy snacks category.

Flagstone, based in St. Paul, Minnesota, makes store-brand snacks such as trail mix and dried fruit. The privately held company runs a facility in Minneapolis and another in Robersonville, North Carolina. It had $697 million in sales for fiscal 2013.

TreeHouse is purchasing Flagstone from private equity firm Gryphon Investors and other shareholders.

Gryphon formed Flagstone in November 2010 when it acquired private-label trail-mix and nuts company Ann's House of Nuts and private-label dried fruit maker American Importing Co. and combined them.

TreeHouse Foods Inc. makes non-dairy powdered creamers and sweeteners, specialty teas, cereals, macaroni and cheese and other items.

TreeHouse said Monday that it anticipates the transaction adding approximately 24 cents to 28 cents to its earnings per share in the first full year after the acquisition's closing. The deal is expected to lower 2014 earnings by about 5 cents to 8 cents per share.

The transaction is targeted to close in 2014's third quarter.

Shares of Oak Brook, Illinois-based TreeHouse added 33 cents to $80.22 in morning trading.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14468.44+85.68
S&P CDNX594.31+6.01
DJIA17689.86-56.12
Nasdaq5128.28-0.50
S&P 5002103.84-4.79
CDN Dollar0.7640-0.0052
Gold1096.90+0.60
Oil47.22-1.69
Lumber252.30+0.50
Natural Gas2.883+0.062

 
Okanagan Companies
Pacific Safety0.17-0.01
Knighthawk0.010.00
QHR Technologies Inc1.42+0.00
Cantex0.035-0.005
Anavex Life Sciences0.9101+0.1101
Metalex Ventures0.05+0.00
Russel Metals19.40-0.05
Copper Mountain Mining0.79+0.01
Colorado Resources0.065+0.005
ReliaBrand Inc0.0049+0.0004
Sunrise Resources Ltd0.03+0.00
Mission Ready Services0.095-0.045
Decisive Dividend Corp2.55+0.05

 





FEATURED Property
2283316108-3545 Carringtyon Road
2 bedrooms 2 baths
$224,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


Chasing ducks

Photo: Thinkstock.comWhen businessmen tell me that being low priced is the only way to stay in business, I am skeptical. Price is the simplest way for a consumer to compare and is overused as the basi...


Taking care of business

Photo: Thinkstock.comRetirement as a goal has changed a lot over the years. There was a time, it was the only goal. You’d punch the clock and count the years until you could stop punching that t...


Income from home equity

Photo: Thinkstock.comWhen retirement funds run low, seniors often ask if tapping into the equity in their home is the right way to retain financial independence. To see if this option might be a good ...

_



26370

26370


Member of BC Press Council


26680