TreeHouse Foods is set to acquire Protenergy Natural Foods from Whitecastle Investments, Whitecap Venture Partners and others, for around CAD$170m ($150m)
Protenergy produces food and beverage products such as carton and recart broth, soups and gravies for private label and corporate brands.
Protenergy, headquarterd in Richmond Hill, Ontario, Canada, operates a second production facility in Cambridge, Maryland of US. The company has around 300 employees.
Subject to the customary closing conditions, the transaction is expected to be completed in the second quarter of 2014.
TreeHouse Foods president and CEO Sam Reed said the acquisition of Protenergy will expand company's existing packaging capabilities, and also enables to offer full range of soup products.
"Lastly, we believe Protenergy's packaging applications present meaningful growth opportunities in the categories that we already play in today, as well as closely adjacent food and beverage categories," Reed added.
Protenergy Natural Foods CEO Kevin Tracey said, "We have an experienced and highly capable management team, and we are focused on delivering innovative product formulation, and exceptional processing and product quality to our customers."
