US: TreeHouse buys Associated Milk Producers own-label assets
- TreeHouse buys aseptic businesses from AMPI
- Adds to Naturally Fresh acquisition in March
TreeHouse adds to private-label portfolio
US private-label group TreeHouse Foods has snapped up cheese and pudding assets owned by dairy co-op Associated Milk Producers.
TreeHouse announced the acquisition of the aseptic units on Friday (30 November) for an undisclosed sum.
The businesses make products for retail and foodservice customers. Treehouse chairman, president and CEO Sam Reed said the deal would "expand our relationships with strategic customers".
The US private-label sector is undergoing a period of consolidation, although it remains a fragmented market. In March, TreeHouse bought dressings and sauces firm Naturally Fresh. However, the year's most notable deal came last week when ConAgra Foods secured a deal to buy Ralcorp Holdings. The acquisition will create the largest own-label firm in the US.
|TreeHouse Foods, Inc. Completes Acquisition of the Aseptic Cheese and Pudding Business from Associated Milk Producers Inc.|
OAK BROOK, Ill., Nov. 30, 2012 /PRNewswire/ -- TreeHouse Foods, Inc. (NYSE:THS) announced today that it has completed the acquisition of the assets of the Aseptic Cheese and Pudding business from Associated Milk Producers Inc.("AMPI"), a dairy marketing cooperative based in New Ulm, Minnesota. Terms of the transaction were not disclosed, but are not expected to have a material effect on TreeHouse's results. The business sells products to foodservice and retail customers, and will be integrated into the Company's existing Bay Valley Foods aseptic operation which also produces cheese and pudding products primarily for its Food Away From Home segment.
"The addition of AMPI's aseptic cheese and pudding business will strengthen Bay Valley Foods' position as a market leader in these product categories and will expand our relationships with strategic customers," said Sam K. Reed, Chairman, President and Chief Executive Officer. "Together with the acquisition of Naturally Fresh, we have added approximately $100 million of annualized sales in 2012 with products that greatly complement our existing portfolio."
Original source: TreeHouse Foods
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