Investindustrial Nears Deal to Acquire TreeHouse Foods

European buyout firm Investindustrial has agreed to buy TreeHouse Foods Inc., the private-label food manufacturer, for $2.9 billion including debt.

Investindustrial will pay $22.50 a share in cash to take TreeHouse private, according to a statement Monday that confirmed a Bloomberg News report. That represents a 38% premium to TreeHouse’s closing price on Sept. 26, the last full trading day before market speculation about a transaction.