Dive Brief:
- TreeHouse Foods Acquires Harris Tea for $205 Million
- Acquisition includes Harris Tea’s manufacturing facilities in New Jersey and Georgia, with 300 employees joining TreeHouse.
- TreeHouse’s strategic acquisitions and divestitures aim to improve margins and drive growth in the private label market.
Dive Insight:
TreeHouse Foods has been actively acquiring and divesting brands in recent years, focusing on building scale in key areas while shedding non-core operations. The acquisition of Harris Tea aligns with TreeHouse’s M&A strategy to strengthen its presence in the tea category.
Tea remains a popular beverage choice, with Americans consuming billions of servings annually. TreeHouse’s CEO, Steve Oakland, sees the acquisition as an opportunity to enhance the company’s blending and sourcing capabilities while expanding its market share in the growing tea segment.
Despite its recent acquisitions, TreeHouse faces challenges such as product recalls. The company is working to address issues like listeria contamination, demonstrating its commitment to product safety and quality.