• Corporate Finance Transactions

BGL Advises TreeHouse Foods on the “Hot and Spicy” Acquisition of San Antonio Farms

June 11 2007

Brown Gibbons Lang & Company announced today the sale of San Antonio Farms to TreeHouse Foods, Inc. (NYSE: THS). BGL acted as the exclusive financial advisor to TreeHouse in connection with the transaction. TreeHouse agreed to pay $88.5 million in cash for the business. 

San Antonio Farms is a manufacturer of premium quality Mexican sauces including salsa, picante, cheese dip, enchilada sauce, and taco sauce. The company sells to retail customers primarily under private label arrangements and to food service customers under the San Antonio Farms label. The company manufactures all of its products at a manufacturing and distribution facility in San Antonio, Texas, where it employs approximately 100 people.
 
“We are very excited to welcome San Antonio Farms to TreeHouse,” said David Vermylen, president & COO, TreeHouse Foods. “This business will be an excellent fit with our Bay Valley Foods business and will be a great platform for us to pursue additional opportunities in the growing Mexican and Southwestern food categories.”
 
“Working with TreeHouse management was a terrific experience as the team was committed to completing this highly strategic acquisition,” commented H. Glen Clarke, managing director at BGL. “This business provides an ideal platform for TreeHouse to expand into the private label Mexican Foods category.”
 
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company is a leading independent investment bank serving middle market companies and their owners throughout the U.S. and internationally. BGL’s professionals are experts in mergers and acquisitions, debt and equity placements, and financial restructurings. BGL is the U.S. partner firm in Global M&A, one of the world’s leading partnerships of top-tier, mid-market, cross-border investment banks. Global M&A was named 2005 Investment Bank of the Year by The M&A Advisor. For more information, please visit www.bglco.com.
 
About TreeHouse Foods, Inc.
TreeHouse is a food manufacturer servicing primarily the retail grocery and food service channels. Its products include pickles and related products; non-dairy powdered coffee creamer; private label soup and infant feeding products, and other food products including aseptic sauces, refrigerated salad dressings, and liquid non-dairy creamer. TreeHouse believes it is the largest manufacturer of pickles and non-dairy powdered creamer in the United States based on sales volume. For more information, please visit www.treehousefoods.com
 
About San Antonio Farms
San Antonio Farms is a producer of Mexican sauces for the retail, food service, and industrial markets. It sells its products under its own brands, under retailer's store brand names, and as custom recipes for restaurant chains and foodservice distributors. For more information, please visit www.sanantoniofarmsonline.com.

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