B&G Foods adds 5 more brands to portfolio

B&G Foods adds 5 more brands to portfolio

Screen Shot 2014-04-24 at 5.04.52 PMSteve’s breakdown: Della Femina used to subscribe to The Ratti Report and now he wishes he still did cause B&G is/was his account and I’m telling you to go steal it!!

$8 million in billings is pretty good and look at all those brands!!

PARSIPPANY, NJ: B&G Foods, Inc. (NYSE:BGS) announced today that it has completed the acquisition of Specialty Brands of America, Inc. and related entities from affiliates of American Capital, Ltd. and certain individuals for the previously announced price of approximately $155 million in cash, subject to certain post-closing adjustments. Specialty Brands is a leading packaged foods company with a portfolio of strong and differentiated brands. Specialty Brands’ largest brand is Bear Creek Country Kitchens, which is the leading brand of hearty dry soups in the United States. Bear Creek also offers a line of savory pasta dishes and hearty rice dishes. Specialty Brands also offers Spring TreeCary’s and MacDonald’s pure maple syrups and pancake syrups, New York Flatbreads and Canoleo margarine. B&G Foods expects the acquisition to be immediately accretive to earnings per share and free cash flow.

B&G Foods funded the acquisition and will pay related fees and expenses with $155 million of borrowings under its existing revolving credit facility and cash on hand.

American Capital was advised by Evercore Group L.L.C. on the transaction.

About American Capital

American Capital, Ltd. (Nasdaq: ACAS) is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate, energy & infrastructure and structured products. American Capital manages $19 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $93 billion of total assets under management (including levered assets). Through an affiliate, American Capital manages publicly traded American Capital Agency Corp. (Nasdaq: AGNC) with approximately $9 billion of net book value, American Capital Mortgage Investment Corp. (Nasdaq: MTGE) with approximately $1 billion of net book value and American Capital Senior Floating, Ltd. (Nasdaq: ACSF). From its eight offices in the U.S. and Europe, American Capital and its affiliate, European Capital, will consider investment opportunities from $10 million to $750 million. For further information, please refer to www.AmericanCapital.com.

About B&G Foods, Inc.

B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, branded shelf-stable foods across the United States, Canada and Puerto Rico. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’centB&GB&MBaker’s JoyBrer RabbitCream of RiceCream of WheatDevonsheerDon PepinoEmeril’sGrandma’s MolassesJJ FlatsJoan of ArcLas PalmasMaple Grove FarmsMolly McButterMrs. DashNew York StyleOld LondonOriginal TingsOrtegaPirate’s BootyPolanerRed DevilReginaRickland OrchardsSa-sónSclafaniSmart PuffsSugar TwinTrappey’sTrueNorthUnderwood,Vermont MaidWright’s and now, Bear Creek Country KitchensSpring TreeCary’sMacDonald’s New York Flatbreadsand Canoleo. B&G Foods also sells and distributes two branded household products, Static Guard and Kleen Guard.


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