Private label packaged foods and beverages manufacturer TreeHouse Foods Inc. entered into a definitive agreement this week to purchase most of Riviana Foods’ US branded pasta portfolio, including the Prince, Creamette, and American Beauty brands, from its owner Ebro, the Oak Brook, IL-based firm announced in a release Thursday. The deal is valued at $242.5 million.
“The acquisition of Ebro’s well-known regional pasta brands further strengthens our portfolio and expands our scale to better serve our national and regional customers,” TreeHouse Foods chief executive officer and president Steve Oakland said in a statement. “Our existing private label and regional brand pasta business will be a natural complement to the acquired brands and will enable us to further optimize our production network, improve capacity utilization, and deliver greater profitability and free cash flow.”
TreeHouse will also take on the Skinner, No Yolks, San Giorgio, Light n’ Fluffy, Mrs. Weiss’, Wacky Mac, P&R Procino-Rossi and New Mill brands under the terms of the deal, along with a manufacturing plant in St. Louis, MO that employes 90 workers. Riviana Foods will retain the Ronzoni national brand and its production facilities in Winchester, VA and Fresno, CA.
The deal is expected to close in the last quarter of 2020 following the completion of a Hart-Scott review and customary closing conditions.
The Link LonkNovember 06, 2020 at 01:06AM
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TreeHouse to Buy Most of Riviana's US Pasta Portfolio - Powder Bulk Solids
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