Atlas Holdings Completes Acquisition of Flagstone Foods, the Snacks Division of TreeHouse Foods, Inc.

GREENWICH, Conn. — Atlas Holdings announced today that it has completed its acquisition of the Snacks Division of TreeHouse Foods, Inc., establishing Flagstone Foods as a new, standalone company and category leader.

Flagstone is one of the largest manufacturers and distributors of private label healthy snacks in North America, holding the leading market position in the nut, trail mix and dried fruit categories. The company’s over 800 associates are located in plants in Robersonville, North Carolina, El Paso, Texas, and Dothan, Alabama. These facilities source, process, package and distribute nuts, trail mixes and other wholesome snacks to premier retail customers across the country. Flagstone will be headquartered in Minneapolis, Minnesota.

Atlas also announced that industry leader Robert Scalia has been named the company’s Chief Executive Officer. Scalia has spent several decades in executive-level roles in food manufacturing, most recently serving as Senior Vice President of Business Development and Strategy of Hearthside Food Solutions. He previously spent 25 years in leadership roles at General Mills, Nabisco, Kraft Foods and Hershey.

“We are very excited to partner with the strong team at Flagstone Foods, and to welcome Bob Scalia as our CEO,” said Michael Sher, Partner at Atlas Holdings. “Consumers are consistently choosing private label brands from grocers, clubs and retailers they trust. Under Bob’s leadership, we believe Flagstone will build upon its already strong market presence and become the ‘go to’ healthy snacks company to meet that growing consumer demand.”

“There are very few opportunities in the food industry that offer a breadth of product offerings, dedicated team of associates, blue-chip customer base, strong community partners and robust platform for growth. Flagstone Foods is such an opportunity, and I am excited to join the team as its CEO,” said Scalia. “With the strong foundation already in place, coupled with Atlas’ operational and financial resources, we are committed to providing the highest quality products, innovative new offerings and unmatched service to our customers and channel partners. The sky is the limit for Flagstone and I can’t wait to get started.”

A significant number of Atlas’ operating companies were once part of larger corporations, like Flagstone, and have now become vibrant standalone businesses.

“Flagstone is a great fit as the next Atlas Holdings’ company,” said Atlas Partner Edward Fletcher. “Execution in sourcing, operational efficiency, quality and outstanding service are critical to serving customers in the private label food business, and these are areas in which Atlas companies consistently excel.”