TreeHouse Foods Agrees to Sell Snacks Division for $90M

Private label packaged foods and beverages manufacturer TreeHouse Foods Inc. recently entered into a definitive agreement to sell its snacks division to Atlas Holdings LLC for $90 million, a company release announced.

Slated to bring in $670 million in net sales during 2019, the firm’s snacks division produces and distributes private label healthy snacks in North America and is one of the region’s leaders in the nuts and trail mix categories, according to TreeHouse.

“The sale of the Snacks Division is a key step in optimizing TreeHouse’s overall product portfolio. It is the culmination of TreeHouse’s strategic review of its Snacks business,” Steve Oakland, the company’s chief executive officer and president, said in a July 8 press release. “This transaction allows the Snacks Division to unlock its potential and serve its customers even better under Atlas’ ownership. We are grateful for the hard work put forth by the Snacks team during these last several years.”

800 workers are employed with the division and it operates three manufacturing facilities in North Carolina, Texas, and Alabama. Another facility operated by the division in Minnesota will close this month.

“This Snacks business will be a welcome addition to the Atlas family of manufacturing and distribution companies,” Michael Sher, partner of Atlas Holdings, said in a statement. “Customers are consistently choosing private label brands, and this business is a premier manufacturer with unique growth potential. We’re excited to partner with this team to deliver the finest, healthy private label snacks in the industry.”

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