| Business

Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Owner of former Heinz plant acquires snack maker

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

Monday, June 30, 2014, 1:18 p.m.

TreeHouse Foods Inc., the owner of the former H.J. Heinz Co. manufacturing plant in the North Side, is acquiring a private-label maker of healthy snacks in an $860 million all-cash deal.

Oakbrook, Ill.-based TreeHouse said the deal to buy Flagstone Foods of St. Paul will increase revenue by $750 million a year and boost earnings by 24 cents to 28 cents a share in the first full year of operation.

The deal is expected to give TreeHouse a foothold in the rapidly growing $7.1 billion healthy snacks category, the company said.

Flagstone, which is owned by private equity firm Gryphon Investors, is one of the largest manufacturers and distributors of trail mix and dried fruit in North America.

It has about 1,365 employees and runs factories in Minneapolis and Roberson, N.C. Its sales last year were $697 million.

TreeHouse is a private-label food maker primarily serving the retail grocery and food service industries.

Its revenue will be about $3.5 billion a year after the closing of the deal, which is expected in the July-September quarter this year.

Alex Nixon is a staff writer for Trib Total Media. He can be reached at 412-320-7928 or

Add Alex Nixon to your Google+ circles.

Subscribe today! Click here for our subscription offers.




Show commenting policy

Most-Read Business Headlines

  1. More employers adopt generous leave policies
  2. Analysis tallies death toll from Volkswagen diesels’ air pollution
  3. Koppers CEO believes struggling company can do better, transform
  4. For some small-business owners, fast, short-term loans have unsustainable interest
  5. Anxiety pervades town built by Volkswagen during emissions-cheating scandal
  6. How companies may adjust to tax on employee benefits
  7. States extend $1.5B in breaks for data centers
  8. Small-scale solar power market draws big utilities
  9. Many losers, few winners for 3Q funds
  10. ATMs to give cash without  your card
  11. Credit bureau Experian keeps info on cellular firm’s customers