Company: THS
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001320695-25-000107
Chunk: 1

Company: TreeHouse Foods, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 2
Chunk 1
---
 as the surviving corporation. The Merger Agreement is an all-cash transaction representing a total Enterprise Value of $2.9 billion. Refer to Note 19 to our Condensed Consolidated Financial Statements for additional information.

Goodwill Impairment

During the third quarter of 2025, the Company concluded that the sustained decrease in our share price and market capitalization was a triggering event requiring an interim goodwill impairment assessment. As a result of the impairment test, the Company recognized a $289.7 million impairment loss related to goodwill. Refer to Note 8 to our Condensed Consolidated Financial Statements and Critical Accounting Estimates below for additional information.

30

Facility Closures

On July 31, 2025, the Company announced plans to close its Chicago, Illinois pickle facility and South Beloit, Illinois cookie facility. The Company expects production to cease at the Chicago facility by the end of the fourth quarter of 2025 and the South Beloit facility during the first half of 2026. The Company believes the decision to consolidate our pickle and cookie capabilities into fewer facilities will allow us to focus on cost, efficiency, and capacity by optimizing our manufacturing footprint. 

Additionally, during the first quarter of 2025, the Company announced the closure of its New Hampton, Iowa facility in response to sustained shifts in consumer demand in the non-dairy creamer ("NDC") category and ongoing efforts to optimize our manufacturing footprint. During the third quarter of 2025, the Company completed the sale of the facility for $7.9 million. The Company consolidated its NDC production into two existing facilities: Wayland, Michigan, and Pecatonica, Illinois.

Refer to Note 3 to our Condensed Consolidated Financial Statements for additional information.

Organizational Restructuring

In April 2025, the Company announced a restructuring of our current business, including a reorganization of our corporate support functions, to drive greater operational efficiency, achieve significant cost-savings, and enhance profitability and cash flow, while improving quality and service levels. Refer to Note 3 to our Condensed Consolidated Financial Statements for additional information.

Debt Refinancing

On January 17, 2025, the Company entered into the Third Amended and Restated Credit Agreement (the "Credit Agreement"), among the Company, the lenders from time to time party thereto and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer.

The Credit Agreement amends, restates and