TreeHouse Foods to Buy Associated Brands

TreeHouse Foods to Buy Associated Brands

TreeHouse Foods aquires Associated Brands, a manufacturer of powdered drinks, specialty teas and sweeteners, for $180 million cash from Canadian private-equity firm TorQuest Partners LLC and other shareholders.

The company said the acquisition will “significantly strengthen” TreeHouse's retail presence in private-label dry grocery and will give it a line of specialty tea products to complement its fast-growing single serve coffee business.

The deal is expected to close in the third quarter, subject to the satisfaction of customary closing conditions, and will be financed through borrowings under TreeHouse's existing $750 million credit facility.