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Slide #96. B&G Foods, Inc. — New York Style and Old London brands from Chipita America
B&G Foods, Inc. (NYSE:BGS)
New York Style and Old London brands from Chipita America
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 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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Hold (2.33 out of 4)