TreeHouse acquires DeGraffenreid
May 07, 2007
by FoodBusinessNews.net Staff
WESTCHESTER, ILL. — TreeHouse Foods, Inc. has acquired DeGraffenreid LLC, a pickle processor and distributor.
TreeHouse acquired the company from Bell-Carter Foods Inc. for $10 million in addition to an adjustment for working capital. The transaction also includes all of the company’s working capital and production equipment.
"We are impressed with DeGraffenreid’s regional strength in the Midwest and southern states, and solid relationships with leading national account chain restaurants," said Sam K. Reed, chairman and chief executive officer of TreeHouse Foods. "Adding DeGraffenreid to our existing Bay Valley Foods operating unit creates an opportunity for accelerated growth in the attractive food service channel."
DeGraffenreid is based in Springfield, Mo. and has annual sales of about $23 million.