Pickle maker TreeHouse Foods Inc said it will purchase Flagstone Foods, a maker of private-label health snacks, for $860 million from Gryphon Investors.TreeHouse shares rose 5 percent in premarket trading.Flagstone is the top producer of trail mix and dried fruit that North American retailers brand and sell as their own, TreeHouse said."Flagstone Foods is ideally situated at the intersection of health and wellness, snacking and the perimeter of the store, and represents an attractive new platform ... to enter the on-trend, rapidly growing $7.1 billon healthy snacks category," TreeHouse Chief Executive Sam Reed said.
TreeHouse Foods, Inc. (TreeHouse) is a food manufacturer servicing the retail grocery and foodservice distribution channels. Shares of THS traded higher by 1.28% or $1.02/share to $80.91. In the past year, the shares have traded as low as $62.76 and as high as $80.00. On average, 170050 shares of THS exchange hands on a given day and today's volume is recorded at 141155.
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