TreeHouse Foods to acquire Cains for $35 million
OAK BROOK, Ill. (AP) -- TreeHouse Foods Inc. said Monday that it will acquire mayonnaise, dressing and sauce maker Cains Foods L.P. for $35 million in cash.
Cains, based in Ayer, Mass., is privately owned and generates annual revenue of $80 million. Its products include private label store brands and the Cains, Naturally Delicious and Olde Cape Cod brands. It sells its products to food service distributors, national food chains and retailers.
TreeHouse said the acquisition will round out its assortment of private label dressings. The company said the deal is expected to have no impact on its 2013 earnings but will add 5 cents per share to its 2014 earnings.
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