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TreeHouse Foods to acquire US pasta brands of Ebro's Riviana Foods for $242.5M


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TreeHouse Foods to acquire US pasta brands of Ebro's Riviana Foods for $242.5M

TreeHouse Foods Inc. has agreed to acquire several U.S. pasta brands owned by Ebro Foods SA unit Riviana Foods Inc. for $242.5 million in cash.

The deal includes the majority of Riviana's pasta portfolio, including regional brands Skinner, No Yolks and American Beauty.

TreeHouse anticipates that the transaction will be accretive by 20 cents to 30 cents per share in the first full year following closure.

The acquisition deal also includes Riviana's St. Louis, Mo., manufacturing facility, which has about 90 employees. The Ronzoni national brand and its Winchester, Va., and Fresno, Calif., plants are not part of the acquisition.

The transaction, which is subject to Hart-Scott Rodino Act review and other customary closing conditions, is likely to close in the fourth quarter.

Evercore is serving as financial adviser and Winston & Strawn LLP is acting as legal counsel to TreeHouse on the transaction.