OAK BROOK, ILL. — TreeHouse Foods, Inc. is acquiring certain assets of Harris Freeman & Co. Inc., Anaheim, Calif., for approximately $205 million. The acquisition will include manufacturing facilities in Moorestown, NJ, and Marietta, Ga., as well as the addition of approximately 300 employees.
“The acquisition of Harris Tea strengthens our competitive positioning in the fast-growing tea category and adds unique blending and sourcing capabilities that customers desire, building upon TreeHouse Foods’ category leadership, enhancing our position through additional depth and scale,” said Steve Oakland, chairman, chief executive officer and president of TreeHouse Foods. “This acquisition aligns with our long-term strategy to build capabilities in our higher-growth, higher-margin categories.”
Harris Freeman is a producer of black, green, herbal, specialty, organic tea bags and iced tea mix for private label retail, foodservice and specialty brands.
“The tea category presents significant opportunity for future growth,” said Kevin Shah, co-CEO of Harris Freeman. “It was clear that TreeHouse Foods would provide a great fit for our next chapter of growth, given its depth of capabilities, scale, industry expertise, and customer relationships, and I am confident we will maintain our upward trajectory as a result of this transaction.”
The transaction is expected to close during the first quarter of 2025 and will be funded with cash on hand, according to TreeHouse Foods.