Business
TreeHouse Foods Closes Sale of Lakeville, MN Facility and Snack Bars Business
OAK BROOK, Ill., Sept. 29, 2023 /PRNewswire/ -- TreeHouse Foods, Inc. (NYSE: THS. "TreeHouse Foods") today announced that it has completed the sale of its
About this update from John B. Sanfilippo & Son, Inc.
[{"type":"text","content":"OAK BROOK, Ill., Sept. 29, 2023 /PRNewswire/ -- TreeHouse Foods, Inc. (NYSE: THS. \"TreeHouse Foods\") today announced that it has completed the sale of its Lakeville, MN manufacturing facility and snack bars business to John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) for approximately $61 million in cash.\n\nThe Lakeville, MN manufacturing facility produces a range of private label snack bar products including fruit and grain, chewy, crunchy and protein bars. The facility had been part of the TreeHouse Foods network since the company's acquisition of the Private Brands business in 2016.\nThe snack bars business was not expected to contribute positive adjusted EBITDA in fiscal year 2023.\nWithin the terms of the transaction, the private label snack bars business; Lakeville, MN, manufacturing facility; customer relationships; and approximately 400 Lakeville-based employees have transitioned to John B. Sanfilippo & Son, Inc.\nAbout TreeHouse FoodsTreeHouse Foods, Inc. is a leading private label food and beverage manufacturer in North America. Our purpose is to engage and delight – one customer at a time. Through our customer focus and category experience, we strive to deliver excellent service and build capabilities and insights to drive mutually profitable growth for TreeHouse and our customers. Our purpose is supported by investment in depth, capabilities and operational efficiencies, which are aimed to capitalize on the long-term growth prospects in the categories in which we operate.\nAdditional information, including TreeHouse Foods' most recent statements on forms 10-Q and 10-K, may be found at treehousefoods.com.\nAbout John B. Sanfilippo & Son, Inc.Based in Elgin, Illinois, John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of snack bars, dried cheese, and nut & dried-fruit based products that are sold under the Company's Fisher ®, Orchard Valley Harvest ®, Squirrel Brand ®, Southern Style Nuts ® and Just the Cheese ® brand names and under a variety of private brands.\nAdditional information, including John B. Sanfilippo & Son, Inc.'s most recent statements on forms 10-Q and 10-K, may be found at jbssinc.com.\nForward-Looking StatementsThis press release contains \"forward-looking\" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking stat...