TreeHouse Foods Completes Acquisition of Flagstone Foods
TreeHouse Foods, Inc. announced the completion of the previously announced acquisition of Flagstone…TreeHouse Foods, Inc. announced the completion of the previously announced acquisition of Flagstone Foods, the leading provider of private label healthy snacks, one of the fastest growing on-trend categories in the food industry.
Flagstone Foods reported sales of approximately $697 million for the fiscal year ended December 28, 2013. TreeHouse paid Gryphon Investors and other shareholders $860 million in cash for the business, subject to an adjustment for working capital, and financed the transaction through a combination of borrowings under its existing credit facility and a $374 million equity issuance.
