Atlas Holdings acquires TreeHouse Foods Snacks Unit for $90m.

Atlas Holdings, a global private equity firm acquires the snacks manufacturing and processing unit of TreeHouse Foods for $90m. TreeHouse plans to use the net proceeds of the sale to pay down debt. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2019. "The sale of the Snacks Division is a key step in optimizing TreeHouse's overall product portfolio. It is the culmination of TreeHouse's strategic review of its Snacks business," said Steve Oakland, CEO and President of TreeHouse Foods. "This transaction allows the Snacks Division to unlock its potential and serve its customers even better under Atlas' ownership. We are grateful for the hard work put forth by the Snacks team during these last several years."