After much speculation, private label food and beverage manufacturer TreeHouse Foods has decided it will not sell the company.
Last November, the Oak Brook, Ill.-based company said the board approved a plan to “explore strategic alternatives, including a possible sale of the company.” However, citing the long-term promise of the private brand industry, the company has decided not to sell.
Ann M. Sardini, TreeHouse’s chair, said "Throughout the comprehensive strategic review process, we have received clear feedback from multiple constituencies that the long-term prospects for private label and for TreeHouse remain highly compelling, but the business mix is complex.”
Steve Oakland, president and CEO of TreeHouse, echoed those sentiments. "The demand trends in private label continue to strengthen, and we are well-positioned to build on our momentum in advantaged categories. We remain confident in our strategy and our outlook for the full year. Our commitment to supporting our customers to meet their growing demand, combined with our ongoing plans to implement supply chain enhancements to reduce costs and improve margins, will drive meaningfully improved results and value creation."
TreeHouse operates in 29 product categories across two divisions and has about 40 productions facilities across North America and Italy.