Investindustrial’s planned $2.9bn acquisition of TreeHouse Foods has cleared US antitrust review, removing a key regulatory hurdle and allowing the transaction to proceed toward an expected close in early 2026.
The deal received early termination of the Hart-Scott-Rodino waiting period, meaning US regulators do not require further review at this stage.
TreeHouse Foods is the largest pure-play private label food manufacturer in the United States, supplying snacks, beverages, and selected grocery categories to retailers under their own brands. Its scale and category breadth make it a core supplier for US supermarkets’ own-label ranges.
The transaction values TreeHouse Foods at approximately $2.9bn and includes a cash offer of $22.50 per share, alongside a contingent value right linked to ongoing litigation. The company’s board unanimously approved the deal, which is supported by major shareholders.
For supermarket buyers, wholesalers, and FMCG sourcing teams, the antitrust clearance shifts the focus from regulatory risk to operational continuity. With no divestments or remedies attached to the clearance, there is no immediate signal of disruption to manufacturing footprint, category supply, or retailer programmes.
TreeHouse has spent recent years narrowing its portfolio, exiting non-core businesses and concentrating on higher-growth private-label segments. That positioning aligns with retailers’ increasing emphasis on own-brand development, cost discipline, and deeper supplier partnerships.
From a market perspective, the deal underlines the strategic importance of private label in US grocery, where scale manufacturers are becoming increasingly central to retailers’ margin and differentiation strategies — a broader trend seen across Private Label in US Grocery.
The acquisition is expected to complete in the first quarter of 2026, at which point TreeHouse Foods will operate as a privately owned supplier under Investindustrial.
Editor’s Note:
This article is based on public regulatory disclosures confirming early termination of the US Hart-Scott-Rodino antitrust review for Investindustrial’s acquisition of TreeHouse Foods, alongside company statements and filings related to the transaction. No investor analysis or speculative commentary has been added.
