TreeHouse Foods, Inc. has entered into a definitive agreement to sell its snacks division to Atlas Holdings LLC of Greenwich, Conn. Atlas owns and operates 19 manufacturing and distribution businesses, which together employ more than 17,000 associates at more than 150 facilities worldwide. Atlas agreed to pay $90 million for the division, subject to closing adjustments.
TreeHouse projected the snacks division to generate net sales of approximately $670 million in 2019, and plans to use the net proceeds of the sale to pay down debts. The transaction is expected to close in the third quarter of 2019.