After releasing strong third quarter figures, the TreeHouse Foods board has approved a measure to explore selling the company. TreeHouse operates in 29 product categories and runs 40 production facilities across North America and Italy.
The Oak Brook, Ill.-based company said a plan to “explore strategic alternatives, including a possible sale of the company” or a transaction to allow the company to focus on its higher growth businesses had been approved by the board of directors. The higher growth businesses include its snacking and beverages and its meal preparation divisions which shows sales growth of 2% and 4.7%, respectively.
"The board's decision to explore strategic alternatives follows careful consideration as well as engagement with many of our shareholders over the past year,” said Ann Sardini, board chair. “This progress and the strong long-term consumer demand trends for private label provide a favorable backdrop as the board thoroughly reviews and considers strategic options with a commitment to maximizing value for all shareholders."