U.S. company acquires Associated Brands
TreeHouse Foods has added Associated Brands to its stable for CDN$187 million
Mississauga, Ont./Oakbrook, Ill. – One of Canada’s largest suppliers of private label and co-manufactured dry packaged foods is now part of a U.S.-based company.
TreeHouse Foods of Illinois acquired Associated Brands for $187 million from TorQuest Partners LLC and other shareholders.
Associated Brands – which has its headquarters in Ontario and facilities in Winnipeg, Man. and Medina, N.Y. – manufactures beverages, side dishes, sweeteners, soups and bouillons, coating mixes, desserts, baking ingredients and cereals.
TreeHouse Foods markets its products to the retail and foodservice industries through Bay Valley Foods, E.D. Smith, Sturm Foods, S.T. Specialty, and Naturally Fresh.
The company’s products include non-dairy powdered coffee creamer, canned soup, salad dressings and sauces, sugar-free drink mixes and sticks, instant oatmeal and hot cereals, macaroni and cheese, skillet dinners and other side dishes and salads; salsa and Mexican sauces, jams and pie fillings under the E.D. Smith brand name, pickles and related products and other food products including aseptic sauces, refrigerated salad dressings, and liquid non-dairy creamer.
TreeHouse Foods says the acquisition will strengthen its retail presence in the private label dry grocery category. And it will also mean entering the large and growing specialty tea category, says Sam Reed, chairman, president and CEO of TreeHouse Foods.
“Not only is tea recognized for its nutritional and health benefits, but it will also be a wonderful complement to our rapidly growing single serve coffee platform,” says Reed.
“We see significant opportunities to expand Associated Brands’ sales, while leveraging their strong customer relationships in both retail and industrial channels,” he adds.
The transaction is expected to close later this year.