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TreeHouse Foods acquires Sturm Foods
FoodProcessing.com
03/03/2010
TreeHouse Foods Inc., Westchester, Ill., on March 2 acquired Sturm Foods Inc., a private label manufacturer of hot cereal and powdered soft drink mixes in Manawa, Wis. The price was $660 million in cash and stock. Sturm had sales of $340 million for the 12 months ended Sept. 30. Following the acquisition, TreeHouse will have sales of about $1.9 billion and adjusted earnings before taxes and expenses of more than $275 million. Founded in 1905, Sturm Foods has 750 employees and operates three facilities in Manawa. The company sells to both retail and foodservice customers.
TreeHouse was spun off from dairy Dean Foods in 2005. Its main operating unit is Bay Valley Foods, Green Bay, Wis., which makes pickles, nondairy creamer, soups, sauces and condiments.
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