TreeHouse Foods Buying Flagstone Foods For $860M

OAK BROOK, Ill. (AP) — TreeHouse Foods is buying Flagstone Foods for $860 million as a way to gain access to the growing healthy snacks category.

Flagstone, based in St. Paul, Minnesota, makes private label snacks such as trail mix and dried fruit. The privately held company runs a facility in Minneapolis and another in Roberson, North Carolina. It had $697 million in sales for fiscal 2013.

TreeHouse is purchasing Flagstone from private equity firm Gryphon Investors and other shareholders.

Gryphon formed Flagstone in November 2010 when it acquired private label trail mix and nuts company Ann’s House of Nuts and private label dried fruit maker American Importing Co. and combined them.

TreeHouse Foods Inc. makes non-dairy powdered creamers and sweeteners, specialty teas and cereals.

Shares of Oak Brook, Illinois-based TreeHouse added $4.09, or 5.1 percent, to $83.98 before the market open on Monday.

(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Comments

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From WCCO | CBS Minnesota

Goin' To The Lake
The Leaderboard

Listen Live