The SIF business is based in Pittsburgh and is a manufacturer of private label condensed and ready-to-serve soup, baby food and gravy packaged in cans, glass jars and Tetra Recart formats. Sales for the business were approximately $210 million in 2016. The transaction is expected to close in this year’s second or third quarter.
“As we continue to deliver on our promise of transformation and shareholder value creation, it is important that we focus our portfolio and enhance our approach toward resource allocation,” said Sam Reed, chairman and CEO of TreeHouse Foods. “This strategic transaction allows us to simplify our business and concentrate our efforts toward more dynamic categories that support our customers’ corporate brand initiatives while offering consumers the best balance of both quality and cost.”
TreeHouse Foods acquired the SIF business and the Pittsburgh facility from Del Monte Foods in 2006.
Approximately 400 hourly and 60 salaried employees will transition from TreeHouse Foods to Riverbend.
TreeHouse Foods will retain its Tetra aseptic carton business, which includes broth and other products that are produced in another location.