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Monday, June 30, 2014

TreeHouse Foods to purchase Flagstone Foods for $860 mln, (NYSE: THS)

Pickle maker TreeHouse Foods Inc said it will purchase Flagstone Foods, a maker of private-label health snacks, for $860 million from Gryphon Investors. Flagstone is the top producer of trail mix and dried fruit that North American retailers brand and sell as their own, TreeHouse said.The purchase will add 24-28 cents per share to TreeHouse's earnings in the first year after the deal is closed, it said.Reuters reported on Thursday that TreeHouse was in late-stage talks to buy Flagstone.

TreeHouse Foods, Inc. (TreeHouse) is a food manufacturer servicing the retail grocery and foodservice distribution channels. Shares of THS traded higher by 1.95% or $1.53/share to $79.89. 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 278327.