Food & Beverage M&A » By The Online Investor Staff, updated Sat., Feb. 27, 1:40 AM
Recent mergers and acquisitions in the Food & Beverage M&A category.
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Slide #3. B&G Foods — Specialty Brands of America
Acquirer:
B&G Foods (NYSE:BGS)
Acquiree:
Specialty Brands of America
Details:
American Capital, Ltd. (Nasdaq: ACAS) ("American Capital") announced today that its portfolio company BCCK Holdings, Inc., parent to Specialty Brands of America, Inc. (collectively "SBA" or the "Company"), was sold to B&G Foods (NYSE: BGS), a manufacturer, marketer and distributor of high-quality, branded shelf-stable foods. American Capital and its affiliated funds received $93 million in equity proceeds and realized a gain of $60 million from the transaction, subject to post-closing adjustments. Of the total proceeds, American Capital received $54 million in equity proceeds, realizing a gain of $35 million from the transaction, subject to post-closing adjustments. American Capital also recognized $20 million of dividend income and additional realized gains over the life of its investment. American Capital's compounded annual rate of return earned on its debt and equity securities over the life of its investment was 17%, including interest, realized gains and fees. American Capital received 2.2 times its equity investment, and realized a compounded annual rate of return of 19% over the life of its equity investment, including dividends and fees. Evercore acted as exclusive financial advisor to American Capital on the transaction.
B&G Foods is a holding company. Through its subsidiaries, Co. manufactures, sells and distributes branded shelf-stable and frozen foods and household products across United States, Canada and Puerto Rico. Co. complements its branded product retail sales with institutional and food service sales and private label sales. Co.'s products include frozen and canned vegetables, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, and cookies and crackers.
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Avg. Broker Rec.
 
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Hold (2.40 out of 4) 7th percentile
(ranked lower than approx. 93% of all stocks covered)
Analysts' Target Price: BGS Stock Forecast Based on Zacks ABR data; powered by Xignite |
