TreeHouse Foods shares are trading higher after the company announced it will sell its Lakeville manufacturing facility and snack bars business to John B. Sanfilippo & Son for $63 million in cash.
Portfolio Pulse from Benzinga Newsdesk
TreeHouse Foods is selling its Lakeville manufacturing facility and snack bars business to John B. Sanfilippo & Son for $63 million in cash. This has led to a rise in TreeHouse Foods' shares.
September 06, 2023 | 7:14 pm
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TreeHouse Foods' shares are trading higher after the company announced it will sell its Lakeville manufacturing facility and snack bars business for $63 million.
The sale of a significant part of TreeHouse Foods' business for a substantial amount of cash is a positive development for the company. This could potentially improve the company's financial position and is likely the reason for the increase in the company's share price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100