US own-label supplier TreeHouse Foods has struck a deal to buy dressings and mayonnaise firm Cains Foods for US$35m.
The deal, announced today (24 June), will see TreeHouse take on a company that supplies own-label and branded products. TreeHouse said Cains sells products under brands including Cains, Naturally Delicious and Olde Cape Cod.
Privately-owned Cains generates annual sales of around $80m. TreeHouse said it expects the deal to have a “neutral impact” on its earnings in 2013 but boost earnings by $0.05 a share in 2014.
“Cains will be a great fit within the TreeHouse family, rounding out our industry leading assortment of private label pourable and spoonable dressings,” TreeHouse chairman, president and CEO Sam Reed said.