TreeHouse Foods’ net sales were up 18% in the second quarter, the US private-label group has said in a set of preliminary numbers for the three-month period.
The company said yesterday (15 July) its top line for the quarter was in line with its expectations of around US$625m.
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M&A, including the acquisitions of soup maker Protenergy Foods and of assets owned by dairy co-op Associated Milk Producers, pushed up sales by 14 percentage points.
Volume and mix increased net sales by five points, while unfavourable foreign exchange trimmed a point off TreeHouse’s top line.
The preliminary results come ahead of a full announcement next month. TreeHouse said its adjusted earnings for the quarter “are expected to be very close to consensus estimates for the quarter”.
Yesterday, TreeHouse also confirmed plans to issue $325m of shares to help pay for its $860m acquisition of private-label snacks firm Flagstone Foods.
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By GlobalDataClick here for our analysis on what the deal for Flagstone could mean for TreeHouse.
