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Stock impact report

TreeHouse Foods to acquire Harris Tea for $205m [Yahoo! Finance]

Treehouse Foods, Inc. (THS) 
Last treehouse foods, inc. earnings: 2/13 06:55 am Check Earnings Report
US:NYSE Investor Relations: treehousefoods.gcs-web.com/node/5806
Company Research Source: Yahoo! Finance
TreeHouse Foods CEO Steve Oakland said the deal “strengthens our competitive positioning in the fast-growing tea category” and brings “unique blending and sourcing capabilities”. Harris Tea, which is also a co-manufacturer for brands including Red Rose, is the “largest private-label tea packer” in the US, TreeHouse Foods said. The acquisition includes Harris Tea's facilities in Moorestown, New Jersey, and in Marietta, Georgia. Around 300 Harris Tea staff are set to join TreeHouse Foods. In a statement, TreeHouse Foods said it expects the deal to provide “vertical integration” across its tea business and be “accretive” to overall growth and margins. As well as producing a range of private-label food products, TreeHouse Foods also supplies powdered drinks, tea and coffee. “This acquisition aligns with our long-term strategy to build capabilities in our higher-growth, higher-margin categories,” Oakland added. In July 2023, TreeHouse Foods acquired assets from Farmer Brothers Show less Read more
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