M&A Deal Summary

Atlas Holdings Acquires Flagstone Foods

On July 8, 2019, private equity firm Atlas Holdings acquired food company Flagstone Foods from TreeHouse Foods for 90M USD

Acquisition Highlights
  • This is Atlas Holdings’ 1st transaction in the Food sector.
  • This is Atlas Holdings’ 2nd largest (disclosed) transaction.
  • This is Atlas Holdings’ 23rd transaction in the United States.
  • This is Atlas Holdings’ 1st transaction in Minnesota.

M&A Deal Summary
Date 2019-07-08
Target Flagstone Foods
Sector Food
Buyer(s) Atlas Holdings
Sellers(s) TreeHouse Foods
Deal Type Divestiture
Deal Value 90M USD

Target

Flagstone Foods

Minneapolis, Minnesota, United States
Flagstone Foods is a manufacturer and distributor of private label healthy snacks in North America. Flagstone sources, processes, packages and distributes nuts, trail mixes and other wholesome snacks to premier retail customers across the U.S. Flagstone Foods was founded in 2010 and is based in Minneapolis, Minnesota.

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Buyer(S) 1

Buyer

Atlas Holdings

Greenwich, Connecticut, United States
Category Private Equity Firm
Founded 2002
Size Large
Type Sector Agnostic
DESCRIPTION

Atlas Holdings is a private equity and investment holding firm focused on acquiring controlling interests in businesses operating in traditional, basic industries. Areas of interest include automotive, business services, industrial services, building materials, pulp and paper, distribution, energy, packaging, specialty steel and wood products. The Firm will participate in bankruptcy investments, highly structured equity and debt investments, leveraged ESOP acquisitions, out-of-court restructurings, and roll-ups. Atlas typically partners with private and institutional investors and structures one investment at a time. Atlas Holdings was established in 2002 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 27 of 35
Sector (Food) 1 of 2
Type (Divestiture) 9 of 14
State (Minnesota) 1 of 1
Country (United States) 23 of 29
Year (2019) 4 of 4
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-28 EQI

Spring Lake, Michigan, United States

EQI is a supply-chain management company specializing in the procurement and distribution of metal components and sub-assemblies. The Company's business model combines a unique blend of outsourced procurement services and distribution / inventory management. EQI sources products from an extensive series of manufacturers located in China and provides a variety of services including engineering support, quality control, and logistics management among others. EQI was founded in 2004 and is based in Spring Lake, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-25 Stryten Manufacturing

Milton, Georgia, United States

Stryten Manufacturing is a provider of innovative energy storage solutions. Stryten Manufacturing combines more than 130 years of experience manufacturing high-quality, top-performing batteries with deep industry expertise, providing the marketplace with smart power solutions to keep people and industry moving every day. Stryten operates seven manufacturing plants strategically positioned across the United States to serve the evolving needs of its customers and partners.

Buy -

Seller(S) 1

SELLER

TreeHouse Foods

Oak Brook, Illinois, United States
Category Company
Founded 1862
Sector Food
Employees7,400
Revenue 3.4B USD (2023)
DESCRIPTION
TreeHouse Foods' corporate headquarters based in Oak Brook, Illinois.
TreeHouse Foods' corporate headquarters based in Oak Brook, Illinois.

TreeHouse Foods is a food manufacturer servicing primarily the retail grocery and foodservice channels. Its major product lines include non-dairy powdered creamer; canned soup, refrigerated and shelf stable salad dressings and sauces; powdered drink mixes; instant oatmeal and hot cereals; macaroni and cheese, skillet dinners and other value-added side dishes and salads; salsa and Mexican sauces; jams and pie fillings under the E.D. Smith brand name; pickles and related products; and other food products including aseptic sauces and liquid non-dairy creamer. TreeHouse Foods was founded in 1862 and is based in Oak Brook, Illinois.

DEAL STATS #
Overall 3 of 7
Sector (Food) 3 of 7
Type (Divestiture) 3 of 7
State (Minnesota) 1 of 2
Country (United States) 3 of 7
Year (2019) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-16 TreeHouse Foods - McCann’s Irish Oatmeal

Oak Brook, Illinois, United States

TreeHouse Foods, Inc. - McCann’s Irish Oatmeal is a provider of classic traditional steel cut Irish oatmeal as well as convenience-oriented products.

Sell $32M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-13 TreeHouse Foods - Two In-Store Bakery Facilities

Oak Brook, Illinois, United States

TreeHouse Foods, Inc. - Two In-Store Bakery Facilities (The Fridley and Lodi plants) manufactures bread, rolls, and cakes for in-store retail bakeries and foodservice customers.

Sell -
Mergr

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