Oak Brook / IL. (thf) TreeHouse Foods Inc. announced that it entered into a definitive agreement on January 10 to sell two of its in-store bakery facilities located in Fridley, Minnesota and Lodi, California to Rich Products Corporation, a family-owned food company with more than 11,000 associates, operating on six continents, in more than 100 countries around the globe. The Fridley and Lodi plants manufacture breads, rolls and cakes for in-store retail bakeries and foodservice customers. The transaction is subject to customary closing conditions and is expected to close by April 10, 2020. Financial terms of the transaction were not disclosed.
«The sale of the Fridley and Lodi facilities allows us to sharpen our focus at TreeHouse, and importantly, creates an opportunity for these plants to thrive under Rich Products’ ownership,» said Steve Oakland, CEO and President of TreeHouse Foods. «We continue to be committed to delivering great customer service within the in-store bakery category through our frosted sugar cookies and Lofthouse branded business.»
«The facilities we are acquiring from TreeHouse enhance our current dessert and bakery product portfolios and align well with our long-term growth strategies,» said Ray Burke, President and Chief Operating Officer, Rich’s U.S. – Canada region. «These added capabilities will also allow us to provide greater fully-finished and artisan product options, which are in high demand among our customers.»
TreeHouse acquired the in-store bakery business from ConAgra Brands as part of the Private Brands transaction in 2016. There are approximately 338 hourly and 45 salaried employees who will transition from TreeHouse Foods to Rich Products. Both companies are committed to a smooth transition for employees, customers and consumers.
About Rich Products Corporation
Rich’s, also known as Rich Products Corporation, is a family-owned food company dedicated to inspiring possibilities. From cakes and icings to pizza, appetizers and specialty toppings, our products are used in homes, restaurants and bakeries around the world. Beyond great food, our customers also gain insights to help them stay competitive, no matter their size. Our portfolio includes creative solutions geared at helping food industry professionals compete in foodservice, retail, in-store bakery, deli, and prepared foods, among others. Working in 100 locations globally, with annual sales exceeding USD 4 billion, Rich’s is a global leader with a focus on everything that family makes possible.
About TreeHouse Foods
TreeHouse Foods Inc. is a leading manufacturer and distributor of private label packaged foods and beverages in North America. We have over 40 production facilities across the United States, Canada and Italy, and our vision is to be the undisputed solutions leader for custom brands for our customers. Our product portfolio includes shelf stable, refrigerated, frozen and fresh products, including baked goods (refrigerated and frozen dough, cereal, cookies, crackers, pretzels and snack bars); beverages (broth, single serve hot beverages, creamers and powdered drinks); and meal solutions (dressings, hot cereal, macaroni and cheese, pasta, pickles, sauces and side dishes). We have a comprehensive offering of packaging formats and flavor profiles, and we also offer natural, organic and preservative-free ingredients across almost our entire portfolio. Our purpose is to make high quality food and beverages affordable to all.