Breaking News Bar
updated: 6/2/2014 10:05 AM

TreeHouse completes acquisition of Protenergy

Success - Article sent! close

Oak Brook-based TreeHouse Foods has completed its acquisition of Protenergy Natural Foods, a developer and manufacturer of premium quality food and beverage products.

TreeHouse said it paid approximately $150 million in cash for the business, subject to an adjustment for working capital, and financed the transaction under its existing credit facility.

Ontario, Canada-based Protenergy had sales of approximately $130 million (Canadian) for 2013. TreeHouse said the transaction is expected to have approximately 5 cent to 7 cent impact on 2014 earnings per share a

TreeHouse announced in April it planned to acquire the company, which is focused on making soups and broths. Bloomberg News reported TreeHouse is looking at acquiring Flagstone Foods, a Minneapolis-base maker of dried fruits and nuts products.

Article Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.