TreeHouse Foods, Inc. Terminates Agreement to Sell Ready-to-Eat Cereal Business
"After thoroughly evaluating our options and the potential outcomes, our Board has determined that terminating the agreement with Post and immediately seeking another buyer for the business is the proper course forward," said Steve Oakland, Chief Executive Officer and President of TreeHouse Foods. "Unfortunately the business risk, necessary resources and extent of time required to challenge the FTC's position was not in the best interest of our constituencies."
TreeHouse acquired the RTE cereal business from ConAgra Brands as part of the Private Brands transaction in 2016. The business operates two manufacturing plants in Lancaster, Ohio and Sparks, Nev.
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