TreeHouse Foods has offloaded its McCann’s Irish Portion of oatmeal brand to B&G Food items for $32 million as the All of us company aims to improve its business.
McCann’s recorded income of around $13 million inand the acquisition practices on from B&G’s purchase recently of snack brand Here we are at Nature Foods. McCann’s complements B&G’s popular wheat cereal brand Treatment of Wheat.
Founded in 1600, McCann’s Irish Oatmeal increased the exports in the early part of the 20th century, specifically to the US and Quebec. TreeHouse Foods acquired the brand through its purchase of Sturm Foods this season.
TreeHouse Foods CEO Steve Oakland said: “McCann’s Irish Oatmeal is a marvellous brand that has great chance to flourish under B&G Foods’ branded food umbrella.
“The divestiture facilitates our efforts to shorten and streamline our organization and concentrate our efforts with private label categories that help support our customers’ corporate brand initiatives. We expect proceeds from a transaction will be used to pay down debt.”
InTreehouse Foods bought Conagra’s plr operations for $2.7 million, a year after acquiring healthy snack manufacturer Flagstone Food.