Oak Brook, IL — In a deal valued at $90 million, TreeHouse Foods, Inc. has entered a definitive agreement to sell its snack division to Atlas Holdings LLC. The transaction is anticipated to close this quarter.
TreeHouse’s snack division is a leader in nuts and trail mixes, and employs more than 800 workers, according to the CPG company. The division operates three plants located in North Carolina, Texas and Alabama. A fourth snack plant and its employees in Minnesota, which is scheduled to close by the end of this quarter, is not included in the deal.
“The sale of the snacks division is a key step in optimizing TreeHouse’s overall product portfolio. It is the culmination of TreeHouse’s strategic review of its snacks business,” says Steve Oakland, CEO and president of TreeHouse Foods. “This transaction allows the snacks division to unlock its potential and serve its customers even better under Atlas’ ownership.”
Atlas owns 19 manufacturing and distribution businesses, operates some 150 facilities and employs more than 17,000 associates globally, according to TreeHouse.
“This snacks business will be a welcome addition to the Atlas family of manufacturing and distribution companies,” says Michael Sher, partner of Atlas Holdings. “Customers are consistently choosing private label brands, and this business is a premier manufacturer with unique growth potential.”