TreeHouse Foods to acquire dressings, sauce maker
OAK BROOK, ILL. — TreeHouse Foods, Inc. has entered an agreement to acquire the assets of Naturally Fresh, Inc., a maker of refrigerated dressings, sauces, marinades, dips and specialty items, for $25 million in cash.
The transaction is expected to close within 30 days and is expected to have a neutral impact on TreeHouse’s earnings in 2012. The acquisition is expected to have a positive impact on 2013 earnings by 5c per share.
“Naturally Fresh provides retailers with a premium offering in the refrigerated produce section, and the acquisition is the perfect complement to our existing broad array of private-label shelf-stable dressings, sauces and salsa,” said Sam K. Reed, chairman, president and chief executive officer. “Additionally, the acquisition will expand our refrigerated manufacturing and packaging capabilities, broaden our distribution footprint and further develop our presence within the growing segment of fresh and good-for-you foods. Naturally Fresh’s Atlanta facility, coupled with our existing West Coast and Chicago based refrigerated foods plants, will also allow us to more efficiently service customers from coast to coast.”
Naturally Fresh is headquartered in Atlanta. The company was founded in 1980 under the name Eastern Foods. It changed its name to Naturally Fresh, Inc. in 2002 to capitalize on the name of its strongest brand of dressings.