WINONA, Ontario (CP) - U.S.-based TreeHouse Foods Inc. is offering $217 million to acquire Canadian jam and sauces maker E.D. Smith Income Fund.
E.D. Smith's products range from fruit-based products, which include jams, jellies and pie fillings, to sauces and syrups, as well as salad dressings.
TreeHouse Foods calls itself the largest manufacturer of pickles and non-dairy powdered creamer in the United States, based on sales volume. Its other products include private-label soup and infant feeding products, salsa, Mexican sauces and salad dressings.
E.D. Smith, based in the Niagara region, said the offer amounts to $9.15 a unit subject to a holdback of 60 cents per unit to cover contingencies associated with a potential tax liability, expenses and wind-up costs.