WESTCHESTER, Ill., May 7, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- TreeHouse Foods, Inc.
(NYSE: THS) today announced it has acquired DeGraffenreid, LLC, a leading
processor and distributor of pickles and related products to the foodservice
industry from Bell-Carter Foods, Inc. for $10 million plus an adjustment for
working capital. The company is located in Springfield, Missouri and has
annual sales of approximately $23 million. The purchase includes all of the
company's working capital and production equipment. Concurrent with the
acquisition of assets, TreeHouse entered into a lease for the land and
"We are impressed with DeGraffenreid's regional strength in the Midwest
and Southern states, and solid relationships with leading National Account
chain restaurants. Adding DeGraffenreid to our existing Bay Valley Foods
operating unit creates an opportunity for accelerated growth in the attractive
foodservice channel," commented Sam K. Reed, Chairman and Chief Executive
Officer of TreeHouse Foods, Inc.
ABOUT TREEHOUSE FOODS, INC.
TreeHouse Foods, Inc. is a food manufacturer servicing primarily the
retail grocery and foodservice channels. Its products include pickles and
related products; non-dairy powdered coffee creamer; private label soup and
infant feeding products, and other food products including aseptic sauces,
refrigerated salad dressings, and liquid non-dairy creamer. TreeHouse
believes it is the largest manufacturer of pickles and non-dairy powdered
creamer in the United States based on sales volume.
FORWARD LOOKING STATEMENTS
This press release contains "forward-looking statements." Forward-looking
statements include all statements that do not relate solely to historical or
current facts, and can generally be identified by the use of words such as
"may," "should," "could," "expects," "seek to," "anticipates," "plans,"
"believes," "estimates," "intends," "predicts," "projects," "potential" or
"continue" or the negative of such terms and other comparable terminology.
These statements are only predictions. The outcome of the events described in
these forward-looking statements is subject to known and unknown risks,
uncertainties and other factors that may cause the Company or its industry's
actual results, levels of activity, performance or achievements to be
materially different from any future results, levels of activity, performance
or achievement expressed or implied by these forward-looking statements.
TreeHouse's Form 10-K for the year ended December 31, 2006 discusses some of
the factors that could contribute to these differences. You are cautioned not
to unduly rely on such forward-looking statements, which speak only as of the
date made, when evaluating the information presented in this presentation.
The Company expressly disclaims any obligation or undertaking to disseminate
any updates or revisions to any forward-looking statement contained herein, to
reflect any change in its expectations with regard thereto, or any other
change in events, conditions or circumstances on which any statement is based.
SOURCE TreeHouse Foods, Inc.
Investor Relations of TreeHouse Foods, Inc., +1-708-483-1300, Ext. 1331