TreeHouse Foods, Inc. sold its Lakeville, Minnesota, manufacturing facility and snack bars business to John B. Sanfilippo & Son Inc. for approximately $61 million in cash.
The manufacturing facility produces a range of private-label snack bar products including fruit and grain, chewy, crunchy and protein bars. The facility had been part of the TreeHouse Foods network since the company's acquisition of the private brands business in 2016.
Within the terms of the transaction, the private-label snack bars business; the manufacturing facility; customer relationships; and approximately 400 Lakeville-based employees have transitioned to John B. Sanfilippo & Son Inc.
The snack bars business was not expected to contribute positive adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in fiscal-year 2023.
TreeHouse Foods is a private-label food and beverage manufacturer.
Based in Elgin, Illinois, John B. Sanfilippo & Son Inc. is a processor, packager, marketer and distributor of snack bars, dried cheese and nut and dried-fruit based products that are sold under the company's Fisher, Orchard Valley Harvest, Squirrel Brand, Southern Style Nuts and Just the Cheese brand names and under a variety of private brands.
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