Investindustrial is acquiring TreeHouse Foods, a North American private-label snacks manufacturer, for $2.9 billion, indicating a substantial interest in the growing private-label sector.

Target Information

Investindustrial, a European private equity firm, has entered into an agreement to acquire TreeHouse Foods, a prominent North American private-label snacks and beverage manufacturer, in an all-cash transaction valued at $2.9 billion, which includes the company’s debt. Under the terms of the agreement, shareholders of TreeHouse will receive $22.50 per share in cash, along with one Contingent Value Right (CVR) contingent on potential recoveries from the ongoing antitrust litigation against Keurig Green Mountain. This offer represents a substantial 38% premium over TreeHouse’s closing share price of September 26, 2025, just before speculation regarding a possible sale emerged.

The transaction has received unanimous approval from TreeHouse’s board and is anticipated to close in the first quarter of 2026, pending necessary shareholder and regulatory approvals. Upon completion, TreeHouse will operate privately under the Investindustrial portfolio, enhancing the firm's existing food and beverage investments.

Industry Overview

TreeHouse Foods, established in 2005 and located in Illinois, specializes in the provision of private-label snacks, coffee, and beverages to a wide array of major retail and foodservice clients across North America. The private-label sector has garnered increased attention as