Oak Brook, Ill. • TreeHouse Foods is buying Flagstone Foods for $860 million as a way to gain access to the growing healthy snacks category.
Flagstone, based in St. Paul, Minn., makes store-brand snacks such as trail mix and dried fruit. The privately held company runs a facility in Minneapolis and another in Robersonville, N.C. It had $697 million in sales for fiscal 2013.
TreeHouse is purchasing Flagstone from private equity firm Gryphon Investors and other shareholders.
Gryphon formed Flagstone in November 2010 when it acquired private-label trail-mix and nuts company Ann's House of Nuts and private-label dried fruit maker American Importing Co. and combined them.