Farmer Bros. to pay down debt with $100 million sale of direct ship business

By Mary-Katherine Stinson

Lexington, Ky., June 7 – Farmer Bros. Co. entered a definitive agreement to sell its direct ship business for approximately $100 million in cash to TreeHouse Foods, Inc., the proceeds of which Farmer Bros. will use to pay down outstanding debt associated with asset-based lending and retire its term loan, according to an 8-K filing with the Securities and Exchange Commission.

Farmer Bros. is a Northlake, Tex.-based direct distributor of coffee, tea and culinary products.

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