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In his second "Executive Decision" segment, Cramer checked in with Sam Reed, chairman and CEO of TreeHouse Foods (THS) , the private-label food maker that just posted a five-cents-a-share earnings beat with strong guidance for the rest of 2017.
Reed noted that TreeHouse's legacy brands were up 3% in the company's fourth quarter, while the brands they acquired from ConAgra Brand (CAG) swung from a deficit to a gain.
When asked about the acquisition of those brands, Reed explained that ConAgra had attempted to combine both branded and private-label into a single business unit, a combination that just didn't work given the different natures of the two. TreeHouse has a single focus on private label, he said, and that's been critical to their success.
Turning to the topic of growth, Reed said that in the U.S., private-label penetration is only at 18%, while in other countries and in some U.S. markets, it's double that number. That leaves a lot of room for growth, he added.
Finally, Reed said that their market is changing, as more and more companies target millennials, who value healthy and organic items as well as things they can prepare themselves.
Cramer said shares of TreeHouse still have a lot of room to grow.
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