Treehouse Foods Inc. plans to offer $325 million in shares to help fund its $860 million acquisition of private-label trail mix maker Flagstone Foods.
The Oakbrook, IL food maker, which is known for producing pickles and powdered creamer, outlined plans to buy Flagstone two weeks ago. The sale is expected to close in the third quarter.
Flagstone Foods holds the No. 1 private-label position in the trail mix and dried fruit categories. The St. Paul, MN -based company employs about 1,365 and reported sales of $697 million in its most recently ended fiscal year.
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