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Stock Market & Financial Investment News

News Breaks
April 21, 2014
07:02 EDTTHSTreeHouse Foods to acquire Protenergy Natural Foods for $150M
TreeHouse Foods announced that it will acquire Protenergy Natural Foods, a developer and manufacturer of premium quality food and beverage products, namely private label broth, soups and gravies. TreeHouse has agreed to pay Whitecastle Investments Limited, Whitecap Venture Partners and others approximately $150M in cash for the business, subject to an adjustment for working capital. The company expects the transaction to have approximately 5c-7c EPS impact on 2014 earnings and add approximately 11c-15c in EPS in 2015. The transaction is expected to close late in the second quarter, subject to the satisfaction of customary closing conditions, and will be financed through borrowings under TreeHouse's existing credit facility. Protenergy had 2013 sales of approximately C$130M for the twelve months ended December 31, 2013. Following the acquisition, TreeHouse anticipates pro forma 2014 sales of approximately $2.7B and adjusted EBITDA of approximately $385M.
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August 7, 2014
08:06 EDTTHSTreeHouse Foods raises FY14 adjusted EPS to $3.60-$3.75 from $3.50-$3.60
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08:05 EDTTHSTreeHouse Foods reports Q2 N. American Retail Grocery sales up 18.2% to $444.2M
Reports Q2 Food Away From Home sales up 13.6% to $97.3M; Reports Q2 Industrial and Export net sales up 33.1% to $86.4M.
08:04 EDTTHSTreeHouse Foods reports Q2 adjusted EPS 84c, consensus 83c
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06:47 EDTTHSTreeHouse Foods resumed with a Neutral at JPMorgan
Price target raised to $76 from $75.

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