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’ 3rd 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 snacks for retailers and foodservice providers. The Company produces a range of nuts, trail mixes, and dried fruit products, offering product development, roasting, seasoning, and packaging capabilities. Flagstone Foods was founded in 2010 and is headquartered 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 40
Sector: Food M&A 1 of 2
Type: Divestiture M&A Deals 8 of 14
State: Minnesota M&A 1 of 1
Country: United States M&A 23 of 32
Year: 2019 M&A 4 of 4
Size (of disclosed) 3 of 3
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
2020-05-01 Permasteelisa

Vittorio Veneto, Italy

Permasteelisa is a global engineering and construction company specializing in the design, manufacture, and installation of architectural envelopes. The Company provides curtain wall, façade, and interior systems for commercial buildings, collaborating with architects and developers worldwide. Permasteelisa was founded in 1973 and is headquartered in Vittorio Veneto, Italy.

Buy -

Seller(S) 1

SELLER

TreeHouse Foods

Oak Brook, Illinois, United States

Category Company
Founded 1862
Sector Food
Revenue 3.4B USD (2024)
DESCRIPTION
TreeHouse Foods' corporate headquarters based in Oak Brook, Illinois.
TreeHouse Foods' corporate headquarters based in Oak Brook, Illinois.

TreeHouse Foods manufactures and distributes private-label food and beverage products across North America. The Company produces snacks, beverages, and meal ingredients, including crackers, coffee, pretzels, cookies, powdered drinks, and condiments, serving grocery retailers, foodservice operators, and e-commerce brands. TreeHouse Foods is headquartered in Oak Brook, Illinois.


DEAL STATS #
Overall 3 of 7
Sector: Food M&A 3 of 7
Type: Divestiture M&A Deals 3 of 7
State: Minnesota M&A 1 of 2
Country: United States M&A 3 of 7
Year: 2019 M&A 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 -