TreeHouse Foods (THS) has completed the acquisition of Protenergy Natural Foods, a developer and manufacturer of food and beverage products, for C$170m ($157m).
Protenergy Natural Foods produces private label broth, soups and gravies, and reported sales of nearly C$130m ($119.7m) for the twelve months ended 31 December 2013.
According to THS, the deal is expected to have nearly $0.05 to $0.07 impact on 2014 earnings per share and to add about $0.11 to $0.14 in EPS neat year.
THS has announced its intention to acquire Protenergy from Whitecastle Investments, Whitecap Venture Partners and others in April 2014.
At the time, THS 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.
Headquarterd in Richmond Hill, Ontario, Protenergy operates a second production facility in Cambridge, Maryland of US, and has a workforce of around 300 employees.
Image: Protenergy Natural Foods produces private label broth, soups and gravies. Photo: courtesy of gulizars.
