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TreeHouse Foods, Inc. (NYSE: THS) is a major private label food and beverage manufacturer in North America. The company focuses on producing high-quality food products including snacks (crackers, pretzels, cookies), beverages (nondairy creamer, coffee, tea), and various grocery items (pickles, refrigerated dough, hot cereal, cheese, pudding). The primary sales channel for TreeHouse Foods is retail grocery stores, where products are sold under the retailers' brands. Other channels include co-manufacturing and foodservice.
Founded with a strategic vision and a commitment to quality, TreeHouse Foods has grown significantly over the years. In 2016, TreeHouse acquired Ralcorp, Conagra's former private-label business, marking a major expansion. However, the company has since streamlined its operations, divesting several businesses to focus on high-growth categories.
Recently, TreeHouse Foods signed a definitive agreement with The J.M. Smucker Co. to acquire the Bick's® pickles, Habitant® pickled beets, Woodman's® horseradish, and McLarens® pickled onions brands for approximately $20 million. This acquisition will enhance TreeHouse Foods' presence in the pickles category and provide entry into the Canadian market.
TreeHouse's financial health demonstrates resilience and strategic growth. The company reported a 3.6% increase in net sales for Q3 2023, totaling $863.3 million, driven by the acquisition of Coffee Roasting Capability and favorable pricing. Despite some challenges such as a voluntary product recall, TreeHouse expanded its gross margin and achieved a 13% year-over-year increase in adjusted EBITDA.
As of Q4 2023, TreeHouse Foods further reported net sales of $910.8 million. The company faced some challenges due to supply chain disruptions, but it continues to focus on strengthening its portfolio and enhancing capabilities, particularly in the private brands market which has seen significant growth.
The company's latest financial results indicate a solid start to fiscal 2024, with net sales of $820.7 million for Q1 2024. TreeHouse is making strides in its commercial pipeline, despite a challenging consumer environment and some operational hurdles.
As a leader in the private label sector, TreeHouse Foods remains committed to delivering excellent service to its customers and creating long-term value for its shareholders through strategic investments and operational efficiencies.
TreeHouse Foods (THS) has successfully completed the acquisition of Ebro's Riviana Foods U.S. branded pasta business for $242.5 million in cash. This acquisition is expected to enhance TreeHouse's portfolio and customer service capabilities. The company anticipates that the acquisition will be accretive by $0.20 to $0.30 per share in the first year, with expected normalized revenue between $170 million and $180 million and normalized EBITDA of $25 million to $30 million. The deal includes several regional pasta brands and a St. Louis manufacturing facility.
TreeHouse Foods (NYSE: THS) has appointed two independent directors, Jill Rahman and Ashley Buchanan, to its Board, aiming to enhance strategic governance. Rahman, with over 30 years in consumer packaged goods, and Buchanan, a retail executive with Walmart experience, are expected to bring valuable insights to the company. The board is set to expand to 12 members temporarily, with nine directors anticipated to seek reelection at the 2021 Annual Meeting. These appointments align with the company's commitment to governance and preparing for management transitions.
TreeHouse Foods, Inc. (NYSE: THS) reported Q3 2020 earnings per diluted share of $0.20, a recovery from a loss of $(1.08) in Q3 2019. Adjusted EPS was $0.71, up from $0.55. Q3 revenue totaled $1.05 billion, reflecting a 0.7% organic growth. The Snacking & Beverages division saw a 5.2% organic sales increase, while Meal Preparation experienced a 2.1% decline. TreeHouse plans to acquire Ebro's U.S. branded pasta business, enhancing its portfolio. The company tightened its full-year revenue guidance to $4.20-$4.40 billion and expects adjusted earnings per diluted share of $2.65 to $2.75.
TreeHouse Foods (NYSE: THS) has signed a definitive agreement to acquire the majority of Riviana Foods' U.S. branded pasta portfolio for $242.5 million. This acquisition includes brands such as Prince, Creamette, and American Beauty, which generated approximately $200 million in revenue for the year ending June 30, 2020. The transaction is expected to be accretive by $0.20 to $0.30 per share in the first year post-closing, with the leverage ratio remaining in the 3.0x to 3.5x range. The deal is anticipated to close in Q4 2020, subject to regulatory review.
TreeHouse Foods will host a third quarter earnings conference call on November 5, 2020, at 8:30 a.m. ET. CEO Steve Oakland and CFO Bill Kelley will present results and outlook for the remainder of the year. An earnings release will precede the call, distributed before market opening on the same day, with slides available from 8:15 a.m. ET. The audio webcast can be accessed via the company's website. TreeHouse Foods is a leading provider of private label packaged foods in North America with extensive production facilities and a diverse product portfolio.
TreeHouse Foods, Inc. (NYSE: THS) is conducting a voluntary recall of certain Chewy Granola Bars sold under the Signature Select brand due to a labeling error. The outer carton states Chocolate Chip, but some bars may contain Peanut Butter & Chocolate Chip, posing a serious risk for individuals with peanut allergies. The recall affects products distributed nationwide in various grocery stores and includes specific UPC codes and best by dates. Consumers are advised to dispose of or return the products for a refund. TreeHouse has received one report of an allergic reaction linked to the product.
TreeHouse Foods, Inc. (NYSE: THS) has priced $500 million in 4.000% senior unsecured notes due in 2028, up from the initially planned $400 million. The offering, which matures on September 1, 2028, will close on September 9, 2020. Proceeds will be used to redeem $375.9 million of 4.875% senior notes due 2022, cover related transaction fees, and for general corporate purposes. The offering is not contingent on the redemption of the 2022 Notes. J.P. Morgan, BofA Securities, Wells Fargo, and BMO Capital Markets are managing the offering.
TreeHouse Foods, Inc. (NYSE: THS) announced an offering of $400 million in senior unsecured notes due 2028. The net proceeds will primarily be used to redeem the $375.9 million outstanding principal of its 4.875% senior notes due 2022, along with related transaction fees. The offering, not contingent on the redemption, aims to strengthen TreeHouse's financial position. J.P. Morgan, BofA, Wells Fargo, and BMO are underwriting the notes. TreeHouse's operating vision includes providing affordable high-quality food and beverages through an extensive product portfolio.
TreeHouse Foods (NYSE: THS) reported a second quarter loss per diluted share of $(0.05), improving from $(0.89) in Q2 2019. Adjusted earnings rose to $0.58 from $0.40. Organic net sales grew 3.7%, attributed to increased retail demand during the pandemic. Despite a revenue dip below guidance due to COVID-19 safety measures, the company raised its full-year adjusted EPS guidance to $2.55-$2.75. Q3 targets include adjusted EPS of $0.55-$0.65 and net sales between $1.04-$1.08 billion. Gross profit margin decreased slightly to 18.4%. Performance showed resilience amid challenges.
TreeHouse Foods, Inc. (NYSE: THS) will host an audio webcast on August 6, 2020, at 8:30 a.m. ET to discuss its second quarter earnings results. The webcast will be led by CEO Steve Oakland and CFO Bill Kelley, outlining results and outlook for 2020. Earnings release will be available before market opens that day, with slides posted at 8:15 a.m. ET. The event is accessible through the company's website and a replay will be available for 180 days.
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