TreeHouse Foods To Sell Its Lakeville, MN Manufacturing Facility And Snack Bars Business To John B. Sanfilippo & Son For $63M Cash
Portfolio Pulse from Benzinga Newsdesk
TreeHouse Foods is selling its Lakeville, MN manufacturing facility and snack bars business to John B. Sanfilippo & Son for $63M in cash. The snack bars business was not expected to contribute positive adjusted EBITDA in fiscal year 2023. The transaction is expected to close within 30 days.
September 06, 2023 | 10:57 am
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POSITIVE IMPACT
TreeHouse Foods is selling its snack bars business and a manufacturing facility, which were not expected to contribute positively to its EBITDA in 2023.
The sale of the non-performing snack bars business and the manufacturing facility is likely to have a positive impact on TreeHouse Foods' financials, as it removes a business that was not expected to contribute positively to its EBITDA in 2023.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
John B. Sanfilippo & Son is acquiring the snack bars business and a manufacturing facility from TreeHouse Foods for $63M.
John B. Sanfilippo & Son is making a significant acquisition, but it's unclear at this stage how this will impact the company's financials or operations in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100