Italy's Investindustrial buys U.S. toppings maker Parker Food

TreeHouse Foods

11/08/2022 14:29

MILAN, Aug 11 (Reuters) - Italian private equity firm
Investindustrial said it had agreed to buy Texas-based toppings
maker Parker Food, adding to a portfolio of food ingredients
companies with aggregate sales of nearly 1 billion euros ($1
billion).
    With 370 employees and three plants across the United
States, Parker Food has seen a double-digit sales rise over the
past decade, Investindustrial said.
    Headquartered in Fort Worth, Texas, Parker Food supplies
ingredients such as chocolate drops to North America's $1.7
billion market for toppings, garnishing and special food
ingredients, which is forecast to grow on average by 10% a year
until 2026.
    Investindustrial said in a separate statement it had also
bought a "significant portion" of the food making division of
TreeHouse Food  THS.N  which manufactures tomato sauce,
mayonnaise, salad dressings and pasta.
    It did not disclose financial details for the two
transactions but said it would announce further acquisitions in
the food sector. ($1 = 0.9667 euros)

 (Reporting by Francesco Zecchini; editing by Valentina Za,
Kirsten Donovan)
 ((Francesco.Zecchini@thomsonreuters.com;))