OAK BROOK, ILL. – TreeHouse Foods, Inc. has agreed to acquire the Bick’s Pickles, Habitant pickled beets, Woodman’s horseradish and McLarens pickled onions brands from JM Smucker Co., Orrville, Ohio, for approximately $20 million.
“This asset acquisition is consistent with our strategy and strengthens TreeHouse Foods’ depth in our growing cucumber category. This will allow us to expand into Canada and position TreeHouse for continued success,” said Steven T. Oakland, Chairman, Chief Executive Officer and President of TreeHouse Foods. “We have had a co-packing agreement with Bick’s Pickles for many years and are pleased to integrate this company into our production network.”
According to Smucker, the brands involved in the transaction generated net sales of approximately $60 million in the last fiscal year. The brands are part of the company’s International and Away From Home divisions.
“This decision will allow us to increase our focus on expanding our position in the coffee, spreads, frozen handheld and pet products categories in Canada with leading and emerging brands such as Folgers, Smucker’s, Jif, Smucker’s Uncrustables, Meow Mix and Milk- “We support our continued leadership in the baking category with our Robin Hood, Five Roses, Carnation and Eagle Brand brands,” said Tim Wayne, senior vice president and general manager, Away From Home, Canada and International. “On behalf of the organization, I would like to express our gratitude to the employees who have worked diligently to support these brands, which have played an important role in our Canadian portfolio.”
The transaction is expected to close in the fourth quarter of TreeHouse’s current fiscal year, subject to customary closing conditions.
“Evil alcohol lover. Twitter junkie. Future teen idol. Reader. Food aficionado. Introvert. Coffee evangelist. Typical bacon enthusiast.”