TreeHouse Foods, Inc. Buyback
OLI recorded this information on 11/2/2017
TreeHouse Foods, Inc.
TreeHouse Foods, Inc. (NYSE: THS) announced today that its Board of Directors has approved a $400 million share repurchase authorization. The new share repurchase program represents approximately 10% of the Company's shares outstanding. On November 2, 2017 the Board authorized the Company to enter into an administered repurchase plan for $50 million of the $400 million in the next 12 months, with the remainder to be repurchased at management's discretion. The Company will repurchase shares opportunistically with a total annual cap of $150 million. The authorization is open ended and the Company can begin repurchasing shares on November 6, 2017.
TreeHouse Foods is a manufacturer and distributor of private label packaged foods and beverages in North America. Co.'s reportable segments are: Meal Preparation, which sells aseptic cheese and pudding; baking and mix powders; hot cereals; jams, preserves, and jellies; refrigerated and shelf stable dressings and sauces; refrigerated dough; single serve hot beverages; skillet dinners; and table and flavored syrups; and Snacking and Beverages, which sells bars; broths; candy; cookies; crackers; in-store bakery products; pita chips; powdered drinks; pretzels; ready-to-drink coffee; retail griddle waffles, pancakes, and French toast; specialty teas; and sweeteners.
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Buy (2.57 out of 4)