TreeHouse Foods Publishes 2022 Environmental, Social & Governance Report
OAK BROOK, Ill., Nov. 7, 2022 /PRNewswire/ -- TreeHouse Foods, Inc. (NYSE: THS), a leading private label food and beverage manufacturer in North America, today published its 2022 Environmental, Social & Governance (ESG) Report, which highlights its progress in 2021 towards its ESG goals.
"I am pleased with the progress that we are making on our ESG journey," said Steve Oakland, CEO and President. "I'm even more excited for further opportunities to drive forward our ESG initiatives and make a meaningful impact. We remain committed to weaving environmental stewardship, stakeholder value creation, and thoughtful governance in everything we do."
Notable highlights from the report include:
- Reduced scope 1 and 2 greenhouse gas emissions by 4% (compared to 2020 baseline)
- Completed a sustainable packaging assessment for primary and secondary packaging across all TreeHouse categories
- Reduced total waste by 9% and maintained >80% landfill diversion rate (compared to 2020 baseline)
- Distributed ESG survey to food suppliers to assess ingredient sourcing risks as part of responsible sourcing efforts
- Conducted annual employee engagement survey and developed centralized plan to unlock values-led, high performance and customer centric work culture
- Donated $7.9 million to charitable organizations, including 8 million pounds of food to those in need
- Created Diversity, Equity, and Inclusion (DEI) Council in 2021
- Developed a strategic plan with the objective of creating a diverse, equitable and inclusive workplace
On October 3, 2022, the Company completed the divestiture of a significant portion of the Meal Preparation business to Investindustrial. The transaction simplifies the Company, sharpening focus on its higher-growth, higher-margin private label snacking and beverage categories. The divestiture also meaningfully reduces the Company's manufacturing and distribution footprint and enables the Company to accelerate growth and improve operational efficiency.
ABOUT TREEHOUSE FOODS
TreeHouse Foods, Inc. is a leading private label food 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 mutual 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.
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: the impact that the divestiture of a significant portion of our Meal Preparation Business or any such divestiture might have on the Company's operations; risks related to the impact of the ongoing COVID-19 outbreak on our business, suppliers, consumers, customers, and employees; the 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; raw material and commodity costs; competition; loss of key suppliers; disruptions or inefficiencies in our supply chain and/or operations, including from the ongoing COVID-19 outbreak; our ability to continue to make acquisitions and execute on divestitures in accordance with our business strategy or effectively manage the growth from acquisitions; impairment of goodwill or long lived assets; changes and developments affecting our industry, including consumer preferences; the outcome of litigation and regulatory proceedings to which we 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; changes in weather conditions, climate changes, and natural disasters; labor strikes or work stoppages; multiemployer pension plans; labor shortages and increased competition for labor; 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, 2021, 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.