TreeHouse Foods Inc. agreed to buy ConAgra Foods Inc.’s private-label unit for $2.7 billion, a purchase that will create the U.S.’s largest maker of store-brand groceries.
The purchase will reduce earnings per share by as much as 35 cents a share the first year after the acquisition, then add as much 70 cents a share to profit the second year, Oak Brook, Illinois-based TreeHouse said in a statement Monday. The acquisition is expected to close in the first quarter, the...
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