TreeHouse Foods To Buy Protenergy Natural Foods For C$170 Mln - Quick Facts

(RTTNews) - TreeHouse Foods Inc. (THS) announced it will acquire Protenergy Natural Foods, a developer and manufacturer of premium quality food and beverage products, namely private label broth, soups and gravies. The company has agreed to pay Whitecastle Investments Limited, Whitecap Venture Partners and others C$170 million in cash for the business, subject to an adjustment for working capital. TreeHouse Foods expects the deal to have approximately $0.05 to $0.07 earnings per share impact on its 2014 earnings and add approximately $0.11 to $0.14 in earnings per share in 2015.

Protenergy is headquartered in Richmond Hill, Ontario, Canada and operates a second production facility in Cambridge, Maryland. Protenergy had 2013 sales of approximately C$130 million for the twelve months ended December 31, 2013.

Following the acquisition, TreeHouse anticipates pro forma 2014 sales of approximately $2.7 billion and adjusted EBITDA of approximately $385 million.