Farmer Bros. sells direct ship business to TreeHouse Foods for $100M; focuses on DSD

FARMER BROTHERS CO

Asset sale includes Northlake, TX facility; expected to close within 60 days.
Proceeds will pay down ABL debt and retire term loan, improving balance sheet.
Post-sale annual revenue expected ~$350M with improved product margins.
Approximately 180 Farmer Bros. team members will transition to TreeHouse Foods.
Corporate HQ remains in Northlake, TX; DSD production moves to Portland, OR.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

FARMER BROTHERS CO entered into Purchase Agreement with TreeHouse Foods, Inc. valued at $100 million in cash (effective 2023-06-06).

Action: entry
Agreement: asset purchase
Counterparty: TreeHouse Foods, Inc.
Value: $100 million in cash
Effective: 2023-06-06

Exact text from the filing

On June 6, 2023, Farmer Bros. Co., a Delaware corporation (the “Company”), entered into an Asset Purchase Agreement (the “Purchase Agreement”) with TreeHouse Foods, Inc., a Delaware corporation (“Buyer”).

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119 material agreements filed in the last 30 days. Browse all material agreements →

FARMER BROTHERS CO filing history →

Source: SEC EDGAR

accession 0001104659-23-068729

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