TreeHouse Foods reportedly in advanced discussions to acquire US dried fruit and nuts maker Flagstone Foods for up to US$900M
June 27, 2014
– US food manufacturer Tree House Foods Inc (NYSE:THS) is holding advanced discussions over a deal for domestic dried fruits and nuts maker Flagstone Foods that could fetch USD800m (EUR587.1m) to USD900m, Reuters reported, citing sources.
According to the people, TreeHouse managed to outrun Chinese private equity firm Hony Capital Co Ltd in the last phase of the auction.
Reuters could not immediately contact any of the parties for comment.
The target is owned by US buyout firm Gryphon Investors, which created the firm in 2010 by combining Amport Foods and Ann's House of Nuts.
TreeHouse announced plans to expand its non-branded food business earlier in 2014. Sources previous said that it had studied the possibility of buying egg and dairy producer Michael Foods Inc, which in April agreed to be taken over by cereal maker Post Holdings Inc (NYSE:POST) for USD2.45bn.
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