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TreeHouse Foods

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ConAgra Foods announced that it will sell off its loss-making private label business yesterday (30 June) in a move that, the company said, will help unlock value for its shareholders. But selling off private brands is about more than offloading an asset that is a challenging turnaround story. New CEO Sean Connolly insists it is about putting ConAgra back on the road to growth. Katy Askew reports.

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Since the inception of TreeHouse Foods in 2005, the US private-label group has snapped up businesses supplying the centre of the store. Now, the company has used M&A to secure a foothold in the perimeter - with the potential for further deals.

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Desperate for growth in a moribund trading environment, there are signs some food manufacturers operating in the US are using acquisitions to bolster their presence in more vibrant parts of the industry. Should others follow?

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After two profit warnings in five months, ConAgra Foods boss Gary Rodkin was correct to use the CAGNY conference this week to front up about the problems at the US food group - and to try to demonstrate the company can rectify them. Some of these challenges are likely to only be short term. However, ConAgra may face more work with its consumer foods and integration of Ralcorp.

ConAgra Foods will become the largest own-label firm in the US with an acquisition of Ralcorp Holdings but there are concerns over whether it can manage brands and private label. There are also questions over the potential private label has for further growth in the US. Doug Knudsen, president of sales at ConAgra, tells Dean Best why the company is upbeat about the deal, its ability to grow brands and own label and the private label sector.

TreeHouse Foods plans to close some of its operations as part of a restructuring programme the US own-label supplier has drawn up to make it more competitive and improve its margins.

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TreeHouse Foods, the biggest private-label supplier in the US, is revising its full-year earnings per share guidance lower amid "adverse" market conditions, pressure from commodity costs increases and lower volumes.

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TreeHouse Foods has appointed former US Foods CEO Robert Aiken to the post of president and chief operating officer.

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TreeHouse Foods, the US private-label supplier, has offloaded its soup and infant feeding business to Riverbend Foods, a new company set up by private-equity firm Insight Equity.

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US private-label food maker TreeHouse Foods is aiming to "capitalise on growth opportunities" with a management reshuffle that has signalled an increased focus on healthy snacking and the "emerging" online sales channel. 

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TreeHouse Foods has recorded a full-year loss after booking an impairment charge related to North American retail grocery unit Flagstone Foods. 

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TreeHouse Foods said that it has struggled to integrate the private brands business that it acquired from ConAgra Foods, which "fell short" of expectations during the third quarter. 

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TreeHouse Foods has revealed plans to close a Canadian production facility in British Columbia and reduce its manufacturing capacity at a site in the US state of Michigan. 

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TreeHouse Foods, the US own-label group, today (3 November) announced two senior management changes - the resignation of president Chris Sliva and the appointment of a new CFO.

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TreeHouse Foods, the US private-label group, today (4 August) announced Dennis Riordan was stepping down as CFO and a decision to hand the role of company president to COO Chris Sliva.

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TreeHouse Foods, the US private-label group, today (4 August) reported half-year results shaped by the company’s recent acquisition of the bulk of ConAgra Foods’ own-label business.

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ConAgra Foods has announced its intention to sell its national food ingredient sourcing and distribution company JM Swank, the US group's latest move to dispose an asset to focus on its consumer-facing business.

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TreeHouse Foods has announced plans to close two manufacturing facilities that it attained as part of its US$2.7bn acquisition of ConAgra Foods' private-label business.

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TreeHouse Foods reported a first-quarter loss as costs associated with its acquisition of the ConAgra Foods private brands business weighed on profitability. 

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TreeHouse Foods plans to close its Bay Valley Foods production site in Ayer, Massachusetts, as part of an ongoing production review. 

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TreeHouse Foods has confirmed it is bumping up the number of natural and organic food items it produces and plans to sell them through the acquired ConAgra Foods private-label unit.

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TreeHouse Foods, the US private-label group, saw sales decline in the last three months of 2015 amid pressure on volumes and moves on prices.

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Shares in TreeHouse Foods rose after the bell yesterday (14 January) on the back of expectation-beating full-year guidance. 

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US group Hain Celestial this week cut its forecasts for annual sales and earnings amid pressure on its domestic business. The company's management also presented at the ICR investment conference, where it sought to be upbeat about Hain's prospects. Staying in the US, Danone warned it could pursue legal action over Chobani's "misleading and deceptive marketing" which targeted its Light & Fit brand. Elsewhere, Irish dairy co-op Ornua announced the acquisition of Chinese group Ambrosia. And we analysed General Mills' recent acquisitions of Brazilian yoghurt maker Carolina and US meat snacks firm Epic Provisions. Here is the week in quotes.

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TreeHouse Foods has announced it will hire another 140 permanent employees from ConAgra Foods as part of the deal for the latter's private-label food business.

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The creation of Kraft Heinz was the stand-out M&A story of the year, although there were plenty of other significant deals, including JBS's move for European meat group Moy Park, the sale of Quorn Foods to Philippines-based Monde Nissin and Nomad Foods' two transactions in European frozen food. Elsewhere, Nestle was rocked by the Maggi recall in India, while it and a number of other companies - including Hershey - suffered amid China's economic slowdown.

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US group ConAgra Foods, fresh from agreeing to sell the bulk of its own-label business, set out plans to split its remaining operations in two. Staying in the US, Glanbia struck a deal to buy protein foods maker ThinkThin, while local distributor Pompeian Group is to merge with Spanish olive oil co-op DCOOP. Olive oil was under scrutiny in Italy, where a clutch of products face a regulatory investigation over claims products are being mis-sold as extra virgin olive oil.

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TreeHouse Foods has announced it is closing its Bay Valley Foods plant in California.

TreeHouse Foods announced yesterday (2 February) it has completed its acquisition of ConAgra Foods' private-label business in a deal that will go some way to reshaping the US own-label sector.