WESTCHESTER, Ill. (AP) — Food maker TreeHouse Foods Inc. said Tuesday it has completed the $660 million acquisition of Sturm Foods Inc.
TreeHouse announced the acquisition of Sturm, a maker of hot cereal and powdered soft drink mixes, in December. The transaction will strengthen TreeHouse's presence in private-label groceries, TreeHouse has said.
TreeHouse said it financed the deal through offerings of $400 million in 7.75 percent senior notes and 2.7 million shares of common stock priced at $43 per share.
The acquisition price of $660 million excludes adjustments for working capital and other items.
Shares of TreeHouse rose 39 cents to $44.60.
