B&G Foods completes acquisition of Specialty Brands of America
B&G Foods, a US-based manufacturer of branded shelf-stable foods, has completed the acquisition…B&G Foods, a US-based manufacturer of branded shelf-stable foods, has completed the acquisition of Specialty Brands of America, and related entities from affiliates of American Capital and certain individuals for $155m.
Specialty Brands is a packaged foods company with a portfolio of several brands, including Bear Creek Country Kitchens, a major brand of dry soups in the US.
In addition, Specialty Brands offers Spring Tree, Cary's and MacDonald's pure maple syrups and pancake syrups, New York Flatbreads and Canoleo margarine.
According to B&G Foods, the acquisition is expected to be immediately accretive to earnings per share and free cash flow.
Earlier this month, B&G Foods signed an agreement to acquire Specialty Brands of America.