TreeHouse Foods, Inc. announced the completion of the previously announced acquisition of Flagstone Foods, the leading provider of private label healthy snacks, one of the fastest growing on-trend categories in the food industry.
Flagstone Foods reported sales of approximately $697 million for the fiscal year ended December 28, 2013. TreeHouse paid Gryphon Investors and other shareholders $860 million in cash for the business, subject to an adjustment for working capital, and financed the transaction through a combination of borrowings under its existing credit facility and a $374 million equity issuance.
