Private-label food retailer TreeHouse Foods Inc is in late-stage talks to acquire Flagstone Foods, a maker of dried fruits and nuts, for between $800 million and $900 million, people familiar with the matter said on Thursday. Oakbrook, Illinois-based TreeHouse Foods has prevailed over Chinese private equity firm Hony Capital Co at the final stage of the auction for Flagstone, which is owned by San Francisco-based private equity firm Gryphon Investors, the people said.The people cautioned that negotiations had not yet been finalized and asked not to be identified because the talks are private.Representatives for Flagstone Foods, Gryphon, TreeHouse and Hony Capital could not be immediately reached for comment.TreeHouse, which has a market value of $2.9 billion, said earlier this year it was looking at expanding its non-branded food business.
TreeHouse Foods, Inc. (TreeHouse) is a food manufacturer servicing the retail grocery and foodservice distribution channels. Shares of THS fell by 0.84% or $-0.66/share to $77.95. In the past year, the shares have traded as low as $62.76 and as high as $78.85. On average, 167806 shares of THS exchange hands on a given day and today's volume is recorded at 2737.
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