OAK BROOK, ILL. โ TreeHouse Foods, Inc. has agreed to acquire the Bickโs pickles, Habitant pickled beets, Woodmanโs horseradish and McLarens pickled onions brands from the J.M. Smucker Co., Orrville, Ohio, for approximately $20 million.
โThis acquisition of assets is consistent with our strategy and enhances TreeHouse Foodsโ depth in our growing pickles category, allowing us to expand into Canada and thus positioning TreeHouse for continued success,โ said Steven T. Oakland, chairman, chief executive officer and president of TreeHouse Foods. โWe have had a co-packing arrangement with Bickโs pickles for many years, and we are pleased to integrate this business with our manufacturing network.โ
According to Smucker, the brands involved in the transaction generated net sales of approximately $60 million in the most recent fiscal year. The brands are part of the companyโs International and Away From Home business units.
โThis decision will allow us to enhance focus on growing our position in the coffee, spreads, frozen handheld and pet categories in Canada with leading and emerging brands such as Folgers, Smuckerโs, Jif, Smuckerโs Uncrustables, Meow Mix and Milk-Bone, and supporting continued leadership in the baking category with our Robin Hood, Five Roses, Carnation and Eagle Brand brands,โ said Tim Wayne, senior vice president and general manager, Away From Home, Canada and International. โOn behalf of the organization, I would like to extend our appreciation to the employees who have worked diligently to support these brands, which have played an important role in our Canadian portfolio.โ
The transaction is expected to close in the fourth quarter of TreeHouseโs current fiscal year, subject to customary closing conditions.
