Feb. 01--TreeHouse Foods completed its $2.7 billion acquisition of ConAgra Foods' private-label business, both companies announced Monday.
For Oak Brook-based TreeHouse, the acquisition further bolsters the company's position as a giant in the business of manufacturing off-brand products. TreeHouse has grown through acquisitions in recent years.
Meanwhile, ConAgra, which is moving its headquarters from Omaha, Neb., to Chicago this summer, is trying to get leaner and more efficient. In addition to selling off its lagging private-label business, ConAgra has announced plans to spin off its frozen potato business into a separate company.
Effective Monday, about 9,500 employees transitioned to TreeHouse, including employees at the office in suburban Downers Grove, according to a ConAgra news release. The deal includes the majority of ConAgra's private-label operations and 32 manufacturing facilities in the U.S., Canada and Italy.
