TreeHouse Foods Inc. has completed the sale of its snack bars business and Lakeville, Minn., processing plant to John B. Sanfilippo & Son Inc. for approximately $61 million in cash, according to a release.
The transaction was announced in early September. The Lakeville facility produces a variety of private-label snack bar products, including fruit and grain, chewy, crunchy and protein bars. TreeHouse Foods acquired the plant as part of the purchase of the Conagra private-label business in 2016. TreeHouse Foods says the snack bars business was not expected to contribute positive adjusted EBITDA in 2023.
The Lakeville facility’s approximately 400 employees have transitioned to John B. Sanfilippo & Son Inc. employment.