Food & Beverage M&A » By The Online Investor Staff, updated Thu., Apr. 18, 7:26 AM
Recent mergers and acquisitions in the Food & Beverage M&A category.
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Slide #96. B&G Foods, Inc. — New York Style and Old London brands from Chipita America
Acquirer:
B&G Foods, Inc. (NYSE:BGS)
Acquiree:
New York Style and Old London brands from Chipita America
Details:
B&G Foods, Inc. announced that it has completed the purchase of the New York Style and Old London brands from Chipita America, Inc. for the previously announced price of $62.5 million in cash, subject to a post-closing adjustment based upon working capital of the business at closing. The acquisition includes a state-of-the-art manufacturing facility in Yadkinville, North Carolina, with approximately 250 employees. B&G Foods expects the acquisition to be immediately accretive to earnings per share and free cash flow.
B&G Foods is a holding company. Through its subsidiaries, Co. manufactures, sells and distributes a portfolio of shelf-stable and frozen food and household products. Co.'s brands and product lines include: The Green Giant and Le Sueur brands, which provide vegetables grown and picked in the Valley of the Jolly Green Giant; The Crisco brand, which provides vegetable oil, cooking oils and cooking sprays; The Ortega brand, which encompasses the Mexican food segment including taco shells, tortillas, seasonings, dinner kits, taco sauces, peppers, refried beans and salsas; and Clabber Girl, which is engaged in baking products, including baking powder, baking soda and corn starch.
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Avg. Broker Rec.
 
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Sell (1.20 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: BGS Stock Forecast Based on Zacks ABR data; powered by Xignite |
