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Aug. 11, 2022, 7:16 a.m. EDT

TreeHouse Foods sells unit to Investindustrial Advisors for $950 mln

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By Steve Gelsi

TreeHouse Foods Inc. /zigman2/quotes/204190057/composite THS +0.32% said Thursday it agreed to sell for $950 million a "significant portion" of its Meal Preparation unit to London-based investment firm Investindustrial Advisors Ltd. The Oak Brook, Ill., company did not provide a specific figure on the size of the stake in the business it sold. The purchase price of $950 million amounts to about 13.6 times the Meal Preparation unit's projected 2022 adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $70 million. The business is expected to generate about $1.6 billion in sales in 2022. The purchase includes $530 million in cash and $420 million in senior secured debt to be provided by TreeHouse. TreeHouse expects to close the transaction in the fourth quarter. Shares of TreeHouse Foods are up 16.1% in 2022 compared to a 17.8% drop by the Nasdaq /zigman2/quotes/210598365/realtime COMP +1.31% .

/zigman2/quotes/204190057/composite
US : U.S.: NYSE
$ 41.11
+0.13 +0.32%
Volume: 66,940
Sept. 28, 2022 12:25p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$2.30 billion
Rev. per Employee
$460,570
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/zigman2/quotes/210598365/realtime
US : Nasdaq
10,971.66
+142.16 +1.31%
Volume: 2.33B
Sept. 28, 2022 12:26p
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