Oak Brook, Ill., October 3, 2022 /PRNewswire/ – TreeHouse Foods, Inc. (NYSE: THS) (“Treehouse” or the “Company”) announced today that it has completed the sale of a significant portion of its food processing business for investment. 950 million dollars. The divested business is Wineland Foods, Inc.
“The completion of this sale is another important milestone for TreeHouse as we simplify our business to improve operational performance and accelerate growth,” he said. Steve Oakland, CEO and President. “Our strategy is to capitalize on positive demand trends and focus on high-growth, high-margin private label snack and beverage categories that will drive long-term stock value.”
Mr. Oakland continued, “We are grateful to our team and investment partners for their cooperation in ensuring a smooth closing and transition. We look forward to seeing the future success of Wineland Foods through investment-industrial leadership as we continue to execute on our plans. The new Treehouse.”
Evercore served as financial advisor to TreeHouse and Gibson Forest served as legal counsel. Center View has provided an equity opinion to its board of directors.
Lazard and Bank of America served as financial advisors to the investment, and Kirkland & Ellis served as legal counsel.
About treehouse foods
TreeHouse Foods, Inc. It is a leading manufacturer and distributor of private label foods and beverages. North America. We operate in 18 product categories and have a total of 26 manufacturing facilities. North America. Our aim is to make high quality food and drinks accessible to everyone. Our vision is to be the undisputed solutions leader for our custom brands. Our mission is to create value as our customers’ preferred manufacturing and distribution partner, providing thought leadership, superior innovation and a relentless focus on performance. Our long-term strategic objective is to build a company that is well-positioned to deliver long-term sustainable growth and create value for our shareholders.
Additional information, including TreeHouse’s most recent filings on Forms 10-Q and 10-K, can be found on TreeHouse’s website, http://www.treehousefoods.com.
Forward-looking statements
This press release Contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements and other information are based on our beliefs, as well as estimates made by us, using current information. “believe”, “estimate”, “project”, “anticipate”, “anticipate”, “plan”, “expect”, “anticipate”, “should”, “may”, “may” and similar expressions. As they relate to us, they are intended to identify forward-looking statements. Such statements reflect our current views regarding future events and are subject to certain risks, uncertainties and assumptions. If one or more of these risks or uncertainties occur, or if underlying assumptions prove incorrect, actual results could differ materially from those expressed herein as anticipated, believed, estimated, expected or intended. We do not intend to update these forward-looking statements after the date of this press release.
Such forward-looking statements, because they relate to future events, are inherently subject to a number of important factors that could cause actual results to differ materially from those contemplated by the forward-looking statements contained in this press release and other public statements. to do Such factors include, but are not limited to: risks related to the impact of the ongoing COVID-19 pandemic on our business, suppliers, consumers, customers and employees; the success of our growth, reinvestment and restructuring programs; the level of our debt and related obligations; disruptions in financial markets; Interest rates; Changes in foreign exchange rates; Customer focus and reinforcement; Costs of raw materials and goods; competition loss of key suppliers; disruptions or inefficiencies in our supply chain and/or operations, including the ongoing COVID-19 pandemic; our ability to execute acquisitions and mergers in accordance with our business strategy or to effectively manage the growth resulting from acquisitions; impairment of goodwill or long-term assets; changes and developments affecting our industry, including consumer preferences; the outcome of legal proceedings and regulatory proceedings to which we are a party; Product recalls; changes in laws and regulations applicable to us; shareholder activity; interruptions or failures of our information technology systems; Discontinuance of advertising in the search for strategic alternatives; changes in weather, climate change and natural disasters; Termination or cessation of labor; Multi-Employer Pension Plans; Labor shortages and increased labor competition; and other risks set forth in the Risk Factors Section, Legal Proceedings Section, Management’s Discussion and Financial Condition and Results of Operations Section and Other Risks Set forth in the Year Ended Section of our Annual Report on Form 10-K December 31, 2021, and from time to time in our filings with the Securities and Exchange Commission (“SEC”). When evaluating the information contained in this press release, you are cautioned not to place undue reliance on forward-looking statements made as of the date hereof. TreeHouse expressly disclaims any obligation or duty to disseminate any updates or revisions to the forward-looking statements contained herein, to reflect any changes in its expectations with respect thereto, or any change in the events, conditions or circumstances upon which any statement is based.
Source: TreeHouse Foods, Inc.
