TreeHouse Foods Acquires Protenergy Natural Foods

By Admin
Illinois based Treehouse Foods has acquired food processing company Protenergy Natural Foods for $150 million in cash. The Maryland Department of Busine...

Illinois based Treehouse Foods has acquired food processing company Protenergy Natural Foods for $150 million in cash. The Maryland Department of Business and Economic Development announced the acquisition Thursday.

Treehouse plans to upgrade the company’s Cambridge facility as part of the acquisition, investing $6 million to purchase new equipment and increase the plant’s capacity. The upgrades will create 35 new jobs in the process.

The purchase is expected to have approximately $0.05 to $0.07 impact on 2014 earnings per share and to add approximately $0.11 to $0.14 in EPS in 2015.

Protenergy bought the manufacturing assets of FoodSwing Inc. in 2011 and planned to move the Maryland facility to Indiana. The company had sales of approximately $110 million for the 12 months of 2013.

Based in Canada, Protenergy is an industry leading developer and manufacturer of premium quality food and beverage products, namely private label broth, soups and gravies.

Treehouse Foods is a food manufacturer servicing primarily the retail grocery and foodservice distribution channels. Products include non-dairy powdered creamers and sweeteners; condensed, ready to serve and powered soups; refrigerated and shelf stable salad dressing and sauces; powdered drink mixes; single serve hot beverages; specialty teas; hot and cold cereals; and more.

 

 

Share

Featured Articles

Livestock data management platform Breedr raises £12mn

Breedr helps farmers improve their livestock productivity & sustainability. Investbridge Capital led a £12mn funding round to build better farm trading

Coca-Cola, Diginex & Reckitt tech to support supply chains

Respect for human rights is critical to good business, says Coca-Cola’s Paul Lalli, as the company joins diginexLUMEN to catch supply chain forced labour

Luxury food manufacturer Venchi on sustainable packaging

Cècile Osti, of luxury chocolate manufacturer Venchi, on Easter 2022, Sorrento lemons, sustainable packaging, natural ingredients & the pleasure of food

How has the pandemic affected sales at General Mills?

Food

Morrisons partners with Nestle in sustainability scheme

Retail

PepsiCo Launches pep+ a Strategic End-to-End Transformation

Drink