TreeHouse Foods, Inc. announced that it has signed a definitive agreement with The J.M. Smucker Co. to purchase the Bick’s® pickles, Habitant® pickled beets, Woodman’s® horseradish and McLarens® pickled onions brands for approximately $20 million, subject to a working capital adjustment.
“This acquisition of assets is consistent with our strategy and enhances TreeHouse Foods’ depth in our growing pickles category, allowing us to expand into Canada and thus positioning TreeHouse for continued success,” said Steve Oakland, Chairman, Chief Executive Officer, and President of TreeHouse Foods. “We have had a co-packing arrangement with Bick’s® pickles for many years and we are pleased to integrate this business with our manufacturing network.”
The brands included in the transaction generated net sales of approximately $60 million for The J.M. Smucker Co. in its latest fiscal year. The transaction is expected to close in the fourth quarter of the Company’s current fiscal year, subject to customary closing conditions.
