TreeHouse To Sell Lakeville Manufacturing Facility And Snack Bars Business To John B. Sanfilippo
(RTTNews) - TreeHouse Foods, Inc. (THS) announced Wednesday that it entered into a definitive agreement to sell its Lakeville, Minnesota-based manufacturing facility and snack bars business to John B. Sanfilippo & Son, Inc. (JBSS) for approximately $63 million in cash.
The facility has been part of the TreeHouse Foods network since its acquisition of the Private Brands business in 2016. The facility produces a range of private label snack bar products including fruit and grain, chewy, crunchy and protein bars.
The snack bars business was not expected to contribute positive adjusted EBITDA in fiscal year 2023. The transaction is subject to customary closing conditions and is expected to close within 30 days.
Following close, the existing private label snack bars business, customer relationships, and Lakeville-based employees will transition to John B. Sanfilippo & Son, Inc. Both companies are committed to a smooth transition for employees, customers and consumers.
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