B&G Foods Q3 net earnings up 15.9%
B&G Foods, a US-based manufacturer, seller and marketer of shelf-stable foods, has reported 15.9…B&G Foods, a US-based manufacturer, seller and marketer of shelf-stable foods, has reported 15.9% increase in net sales to $154.2m for the third quarter ended 29 September 2012, compared to $133m for the same period in 2011.
B&G Foods, a US-based manufacturer, seller and marketer of shelf-stable foods, has reported 15.9% increase in net sales to $154.2m for the third quarter ended 29 September 2012, compared to $133m for the same period in 2011.
The company said that Culver Specialty Brands acquired in November 2011 contributed $20.2m to net sales for the quarter.
B&G Foods' net income for the period increased by 39.8% to $16.9m, compared to $12m for the corresponding period the previous year.
B&G Foods president and chief executive David Wenner said the results indicates the continued success of the Culver Specialty Brands acquisition and improving sales trend of the company.
The company expects the acquisition of New York Style and Old London brands to be completed by the end of this year.
This acquisition will mark the company's entry into the snack segment, Wenner added.
B&G Foods' products include hot cereals, fruit spreads, canned meats and beans, spices, seasonings, marinades hot sauces, wine vinegar, maple syrup, molasses, salad dressings, Mexican-style sauces, taco shells and kits, salsas, pickles, peppers and other specialty food products.
