TreeHouse Foods completes $61m sale of MN facility and snack bars business

TreeHouse Foods, Inc. (NYSE: THS) has successfully finalized the sale of its Lakeville, Minnesota manufacturing facility and snack bars business to John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) in a cash transaction valued at approximately $61 million.

The Lakeville, MN manufacturing facility played a pivotal role in producing a diverse range of private label snack bar products, encompassing fruit and grain, chewy, crunchy, and protein bars. This facility had been an integral part of TreeHouse Foods’ network since the acquisition of the Private Brands business in 2016.

It’s worth noting that the snack bars business was not anticipated to make a positive contribution to adjusted EBITDA in fiscal year 2023.

Under the terms of this transaction, the private label snack bars business, along with the Lakeville, MN manufacturing facility, customer relationships, and around 400 dedicated employees in Lakeville, have transitioned seamlessly to John B. Sanfilippo & Son, Inc.