TreeHouse Foods and Investindustrial Announce Definitive Acquisition Agreement for a Total Enterprise Value of $2.9 Billion

Core Viewpoint - TreeHouse Foods, Inc. is set to be acquired by Investindustrial in an all-cash transaction valued at $2.9 billion, providing shareholders with $22.50 per share and a contingent value right [1][2][3] Transaction Details - Shareholders will receive $22.50 per share in cash, representing an equity value of $1.2 billion, which is a 38% premium over the closing share price on September 26, 2025, and a 29% premium to the 30-day volume-weighted average share price [2][3] - The acquisition has been unanimously approved by the TreeHouse Foods Board of Directors and is expected to close in the first quarter of 2026, pending shareholder and regulatory approvals [4][5] Contingent Value Right - Each shareholder will receive one non-transferable Contingent Value Right (CVR) per share, which allows holders to receive 85% of any net proceeds from ongoing litigation related to TreeHouse Foods' coffee business [2][6] Litigation Background - TreeHouse Foods is involved in ongoing litigation against Keurig Dr. Pepper Inc. regarding antitrust claims, with estimated damages ranging from $719.4 million to $1.5 billion [7] Company Strategy - TreeHouse Foods aims to become a leader in private brand snacking and beverages, focusing on long-term growth prospects and an agile operating model [4][11] Investindustrial's Profile - Investindustrial is a leading European investment group with €17 billion in raised fund capital, focusing on mid-market companies and emphasizing sustainable value creation [13]