TreeHouse Foods, a US-based food manufacturer, has completed its acquisition of Canadian food manufacturer Associated Brands from private equity firm TorQuest Partners and other shareholders for C$187m ($180m) in cash.
Headquartered in Mississauga, Ontario, Canada, Associated Brands is engaged in the manufacture of dry packaged food products such as flavoured drink mixes, speciality tea, hot chocolate drinks, dessert mixes, soups, bouillon, side dishes, sweeteners and oatmeal as well as nutritional and weight management products.
The company employs 650 staff across its three production facilities in Delta, British Columbia, Canada; Medina, New York, US; and Toronto, Ontario, Canada.
For the year ending 30 June 2013, Associated Brands reported revenues of $200m.
The acquisition adds a line of speciality tea products to TreeHouse's single serve coffee business and is expected to enable the company to reinforce its retail presence in private label dry grocery.
