Harris Williams & Co. Advises TreeHouse Foods, Inc. on the Sale of its Soup and Infant Feeding Business to an Affiliate of Insight Equity
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces the sale of TreeHouse Foods, Inc.’s (TreeHouse) Soup and Infant Feeding business to Riverbend Foods LLC, an affiliate of Insight Equity. Harris Williams & Co. served as the exclusive advisor to TreeHouse on the sale of its Soup and Infant Feeding business which is one of the largest providers of private label canned soup and jarred baby food in North America. The transaction was led by Tim Alexander, Brant Cash, Andy Warczak and Wes Lilja of Harris Williams & Co.’s Consumer Group.
“We’re pleased to have advised TreeHouse on the successful sale of its Soup and Infant Feeding business. The transaction allows TreeHouse to focus on its core strategic growth initiatives as it continues to execute on its private label strategy,” said Tim Alexander, a managing director at Harris Williams & Co.
“The team at Insight Equity brings deep operational expertise and a new strategic plan that will unlock the growth potential of the Soup and Infant Feeding platform. We look forward to watching the company build upon its foundations by pursuing several new and attractive growth opportunities,” added Brant Cash, a director at Harris Williams & Co.
The TreeHouse Soup and Infant Feeding business is a leading manufacturer of soups, broths, gravies and infant feeding products sold in cans, jars and Tetra Recart® cartons. Based in Pittsburgh, the company owns and operates a USDA and BRC certified 625,000 square foot facility with broad manufacturing capabilities and a track record of delivering high-quality products that meet the demands of a discerning customer base.
TreeHouse is a manufacturer of packaged foods and beverages with more than 50 manufacturing facilities across the U.S., Canada and Italy that focuses primarily on private label products for both retail grocery and food away from home customers. TreeHouse manufactures shelf-stable, refrigerated, frozen and fresh products, including beverages and beverage enhancers (single serve beverages, coffees, teas, creamers, powdered beverages and smoothies); meals (cereal, pasta, macaroni and cheese and side dishes); retail bakery (refrigerated and frozen dough, cookies and crackers); condiments (pourable and spoonable dressing, dips, pickles and sauces) and healthy snacks (nuts, trail mix, bars, dried fruits and vegetables). TreeHouse has a comprehensive offering of packaging formats and flavor profiles and also offers natural, organic and preservative-free ingredients in many categories. TreeHouse’s strategy is to be the leading supplier of private label food and beverage products by providing the best balance of quality and cost to its customers.
Insight Equity makes control investments in strategically viable, middle market manufacturing and distribution businesses across a wide range of industries. Leveraging a proven, collaborative value creation model, Insight Equity facilitates operating enhancements and growth. The firm specializes in partnering with companies in complex or challenging situations, including corporate divestitures, management buyouts, aggressive growth opportunities, going-private transactions, restructurings and transitions from family ownership. Insight Equity's headquarters is located near the Dallas / Ft. Worth International Airport in Southlake, Texas. The firm also has an office in New York City.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side M&A advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
Harris Williams & Co.’s Consumer Group has completed more than 50 transactions in recent years across a variety of verticals, including branded consumer products; consumer services; food, beverage and agribusiness; and restaurant and retail. For more information on Harris Williams & Co.’s Consumer Group and other recent transactions, visit the Consumer Group’s section of the Harris Williams & Co. website.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.