Anaheim-Based Tea Production Business Changes Hands

TreeHouse Foods Inc. agreed to acquire the tea business of Anaheim-based Harris Freeman & Co. Inc. for $210 million on Dec. 2. The transaction will be funded with cash on hand. It includes Harris Freeman’s manufacturing facilities in Moorestown, N.J., and Marietta, Ga., along with 300 members of the division, who will join Treehouse Foods as part of the deal. The transaction is expected to close in the first quarter of 2025.

“The tea category presents significant opportunity for future growth,” said Kevin Shah, co-chief executive of Harris Freeman. “It was clear that TreeHouse Foods would provide a great fit for our next chapter of growth, given its depth of capabilities, scale, industry expertise, and customer relationships, and I am confident we will maintain our upward trajectory as a result of this transaction.”

Wells Fargo Securities served as exclusive financial advisor and Holland & Knight served as legal counsel to Harris Tea on the transaction. Gibson & Dunn served as legal counsel to TreeHouse Foods.