OAK
BROOK, Ill., Nov. 13,
2024 /PRNewswire/ -- TreeHouse Foods, Inc. (NYSE:
THS) announced today that its Board of Directors has approved a
$400 million share repurchase
authorization. This renewal maintains the existing annual cap of
$150 million. The Company will
repurchase shares opportunistically and the authorization is open
ended. The Company can begin repurchasing shares immediately.
"Today's announcement is a reflection of continued execution of
our capital allocation strategy and indicates our Board's
confidence in the strength of our balance sheet and our future cash
generating capability, which should provide value for our
shareholders over time," said Steve
Oakland, Chairman, Chief Executive Officer, and
President.
Shares will be repurchased in the open market, through private
purchases, or otherwise and will be held as treasury stock. The
extent to which TreeHouse repurchases its shares and the timing of
such repurchase will depend on market conditions and other
factors.
ABOUT TREEHOUSE FOODS
TreeHouse Foods, Inc. is a leading private brands snacking and
beverage manufacturer in North
America. Our purpose is to engage and delight - one customer
at a time. Through our customer focus and category experience, we
strive to deliver excellent service and build capabilities and
insights to drive mutually profitable growth for TreeHouse and for
our customers. Our purpose is supported by investment in depth,
capabilities and operational efficiencies which are aimed to
capitalize on the long-term growth prospects in the categories in
which we operate.
Additional information, including TreeHouse's most recent
statements on Forms 10-Q and 10-K, may be found at TreeHouse's
website, http://www.treehousefoods.com.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking" statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements and other information are
based on our beliefs, as well as assumptions made by us, using
information currently available. The words "believe," "estimate,"
"project," "expect," "anticipate," "plan," "intend," "foresee,"
"should," "would," "could," and similar expressions, as they relate
to us, are intended to identify forward-looking statements. Such
statements reflect our current views with respect to future events
and are subject to certain risks, uncertainties, and assumptions.
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may
vary materially from those described herein as anticipated,
believed, estimated, expected, or intended. We do not intend to
update these forward-looking statements following the date of this
press release. Such forward-looking statements, because they relate
to future events, are by their very nature subject to many
important factors that could cause actual results to differ
materially from those contemplated by the forward-looking
statements contained in this press release and other public
statements we make. Such factors include, but are not limited to:
risks related to quality issues, disruptions, or inefficiencies in
our supply chain and/or operations; loss or consolidation of key
suppliers; raw material and commodity costs due to inflation; labor
strikes or work stoppages; multiemployer pension plans; labor
shortages and increased competition for labor; success of our
growth, reinvestment, and restructuring programs; our level of
indebtedness and related obligations; disruptions in the financial
markets; interest rates; changes in foreign currency exchange
rates; customer concentration and consolidation; competition; our
ability to execute on our business strategy; our ability to
continue to make acquisitions and execute on divestitures or
effectively manage the growth from acquisitions; impairment of
goodwill or long lived assets; changes and developments affecting
our industry, including customer preferences and the prevalence of
weight loss drugs; the outcome of litigation and regulatory
proceedings to which we and/or our customers may be a party;
product recalls; changes in laws and regulations applicable to us;
shareholder activism; disruptions in or failures of our information
technology systems; geopolitical events; changes in weather
conditions, climate changes, and natural disasters; and other risks
that are set forth in the Risk Factors section, the Legal
Proceedings section, the Management's Discussion and Analysis of
Financial Condition and Results of Operations section, and other
sections of our Annual Report on Form 10-K for the year ended
December 31, 2023, and from time to
time in our filings with the Securities and Exchange Commission
("SEC"). You are cautioned not to unduly rely on such
forward-looking statements, which speak only as of the date made
when evaluating the information presented in this press release.
TreeHouse expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking
statement contained herein, to reflect any change in its
expectations with regard thereto, or any other change in events,
conditions or circumstances on which any statement is based.
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SOURCE TreeHouse Foods, Inc.
