TreeHouse Foods Inc., a company known for pickles and non-dairy creamers, said Monday that it has agreed to buy Cains Foods L.P., a privately owned Ayer- based manufacturer of shelf stable mayonnaise, dressings, and sauces.
In a press release, TreeHouse said it has agreed to pay $35 million in cash for the business, subject to adjustments for working capital and taxes. The transaction is expected to close within 30 days.
Headquartered in Illinois, TreeHouse sells products that include non-dairy powdered creamers, private label canned soups, refrigerated and shelf stable salad dressings and sauces, powdered drink mixes and single serve hot beverages, hot cereals, macaroni and cheese, skillet dinners, Mexican sauces, jams, and pie fillings, pickles and related products, aseptic sauces, and liquid non-dairy creamer. TreeHouse said it believes it is the largest manufacturer of pickles and non-dairy powdered creamer in the United States.
As for Cains, its products are sold under the Cains, Naturally Delicious, and Olde Cape Cod brand names. It also makes private label products for food service distributors, national chains, and retailers. The company’s facilities include its owned food processing plant and leased distribution facility in Ayer. Cains employs about 100 people.
‘‘Cains has a nearly 100 year tradition of manufacturing high quality products, and this is a very good business with experienced management and a dedicated team of employees,’’ Sam K. Reed, chairman, president, and CEO of TreeHouse Foods, said in a statement. ‘‘Cains will be a great fit within the TreeHouse family, rounding out our industry leading assortment of private label pourable and spoonable dressings.’’