TreeHouse Foods Inc. announced a definitive agreement to sell its Soup and Infant Feeding (SIF) business to Riverbend Foods LLC, a newly formed portfolio company of Insight Equity, a private equity firm.
The SIF business is based in Pittsburgh and makes private label condensed and ready-to-serve soup, baby food and gravy. Sales were approximately $210 million in 2016.
Financial terms of the sale were not disclosed. The transaction is subject to close in the second or third quarter.
