M&A Deal Summary

TreeHouse Foods Acquires Associated Brands

On August 8, 2013, TreeHouse Foods acquired food company Associated Brands from TorQuest Partners for 180M USD

Acquisition Highlights
  • This is TreeHouse Foods’ 7th transaction in the Food sector.
  • This is TreeHouse Foods’ 7th largest (disclosed) transaction.
  • This is TreeHouse Foods’ 1st transaction in Canada.
  • This is TreeHouse Foods’ 1st transaction in Ontario.

M&A Deal Summary

Date 2013-08-08
Target Associated Brands
Sector Food
Buyer(s) TreeHouse Foods
Sellers(s) TorQuest Partners
Deal Type Add-on Acquisition
Deal Value 180M USD
Advisor(s) BMO Capital Markets (Financial)
Torys (Legal)

Target

Associated Brands

Mississauga, Ontario, Canada
Associated Brands LP is a manufacturer and supplier of private label packaged food products that sells to almost all of the 50 largest North American food retailers.

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Buyer(S) 1

Buyer

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 8 of 14
Sector: Food M&A 7 of 13
Type: Add-on Acquisition M&A Deals 6 of 9
State: Ontario M&A 1 of 2
Country: Canada M&A 1 of 2
Year: 2013 M&A 2 of 2
Size (of disclosed) 7 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-24 Cains Foods

Ayer, Massachusetts, United States

Cains Foods, L.P. is a manufacturer of shelf stable mayonnaise, dressings and sauces in a variety of packaging formats and sizes, including single serve cups and pouches, tubs, retail glass and multi-serve food sizes.

Buy $35M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-21 Protenergy Natural Foods

Richmond Hill, Ontario, Canada

Protenergy Natural Foods Corp. is a fully integrated manufacturer of natural food and beverage products. From concept through product formulation, analytical and sensory testing, nutritional evaluation, packaging and logistics.

Buy $150M

Seller(S) 1

SELLER

TorQuest Partners

Toronto, Ontario, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 3.0B CAD
Size Large
Type Sector Agnostic
DESCRIPTION

TorQuest Partners is a Canadian mid-market private equity firm. TorQuest invests in established companies that deal in manufacturing, business services, financial services, industrial products, food, consumer products, and chemicals. Prospective transaction situations include family successions, recapitalizations, corporate carve-outs, and buyouts. Torquest targets businesses valued from C$40 to C$250 million where the firm can commit C$20 to C$100 million. TorQuest Partners was formed in 2002 and is based in Toronto.


DEAL STATS #
Overall 7 of 27
Sector: Food M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 12
State: Ontario M&A 3 of 12
Country: Canada M&A 5 of 21
Year: 2013 M&A 1 of 2
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-01 Universal Rail Systems

Sherwood Park, Alberta, Canada

Universal Rail Systems is a supplier of railway maintenance, new track construction, rehabilitation and emergency services on main and secondary lines. It also provides highly specialized track services as well as light rail transit (LRT) construction, maintenance, signals and communication support. Universal Rail Systems is based in Sherwood Park, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-04 4Refuel

Langley, British Columbia, Canada

4Refuel is a mobile on-site refueling (MOR) provider in Canada and Texas. The Company delivers approximately one billion liters of fuel annually to over 3,000 customers across rail, transportation & logistics, consumer goods, infrastructure, building products, and other critical industries. 4Refuel Canada was formed in 1995 and is based in Langley, British Columbia.

Sell -