TreeHouse Foods Inc., a leading private brands snacking and beverage manufacturer, has announced its acquisition of Harris Tea, the private label tea business of Harris Freeman & Co., for approximately $205 million. The deal, advised by Gibson Dunn & Crutcher LLP for TreeHouse Foods and Holland & Knight LLP for Harris Tea, is expected to close in the first quarter of 2025.
Strategic Fit and Growth Potential
TreeHouse Foods’ chairman, CEO, and president, Steve Oakland, hailed the acquisition as a strategic move to solidify the company’s presence in the growing tea category.
“The acquisition of Harris Tea strengthens our competitive positioning in the fast-growing tea category and adds unique blending and sourcing capabilities that customers desire,” Oakland said. “This aligns with our long-term strategy to build capabilities in higher-growth, higher-margin categories.”
Harris Tea’s established expertise in tea blending and private label branding is expected to bolster TreeHouse Foods’ leadership in the sector, contributing depth and scale to its portfolio.
Details of the Acquisition
The $205 million deal includes Harris Tea’s manufacturing facilities in Moorestown, New Jersey, and Marietta, Georgia, along with its workforce of approximately 300 employees, who will transition to TreeHouse Foods. Funding for the transaction will primarily come from TreeHouse Foods’ existing cash reserves.
