Report: TreeHouse Eyes Sale of Meal-Prep Business

European investment firm Investindustrial is in talks to buy private label food and beverage manufacturer TreeHouse Foods, according to a report from Bloomberg.

Citing sources close to the matter, the report indicated the deal valued at $1.3 billion will include TreeHouse’s meal-prep business. However, a deal has yet to be finalized.

Earlier this year, TreeHouse officials said they would explore the sale of a “significant portion” of the company’s meal-prep business with the goal of focusing more on its snack and beverage businesses.

In recent months TreeHouse has seen a number of changes at the executive level and with its board of directors. In June, the company announced a search for a new CFO and in April announced new board members and the resignation of two others. 

TreeHouse operates in 29 product categories across two divisions, and has approximately 40 production facilities across North America and Italy.