TreeHouse Completes S.T. Specialty Foods Acquisition

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November 2, 2010

TreeHouse Foods, Inc. completed the previously announced acquisition of S.T. Specialty Foods for $180 million, plus up to an additional $15 million if the company achieves certain earnings targets for the year.

Headquartered in Brooklyn Park, Minn., S.T. Specialty Foods Inc. produces private label macaroni and cheese, skillet dinners and other value-added side dishes and salads.

Prior to the closing the deal late last week, TreeHouse also amended and restated its revolving credit facility, extending the maturity of the company's revolving credit facility from August 31, 2011 until October 27, 2015, and increases the amount available from $600 million to $750 million.

Proceeds of the Amended and Restated Credit Agreement were used to refinance TreeHouse Foods’ existing credit facility, funded the acquisition purchase price and paid related transaction costs, the company said in a statement.

After closing the S.T. Specialty Foods transaction, approximately $200 million of the credit facility remains available for future use.

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