Sep. 3, 2015, 9:58 AM
- General Mills (GIS +0.7%) announces it will sell its Green Giant and Le Sueur business to B&G Foods (BGS +11.3%) for $765M.
- The company will retain the Green Giant business in Europe under a licensing agreement with B&G.
- Cash from the sale will go toward debt reduction and buybacks.
- A plan to offload Green Giant was reported earlier this year.
Aug. 27, 2015, 4:05 PM
Jul. 13, 2015, 9:35 AM
- B&G Foods (BGS) acquires Mama Mary's Pizza Crusts for ~$50M from Linsalata Capital Partners.
- Some post-closing adjustment will impact the final deal price.
- The company expects the addition of Mama Mary's to add $35M in annual sales and $7.5M in EBITDA.
May 27, 2014, 7:28 AM
- A $6.4B offer by Pilgrim Pride's (PPC) to buy Hillshire Brands (HSH) could rattle the food sector.
- For starters, the deal could spoil Hillshire's offer on the table to buy Pinnacle Foods (PF).
- The quick analyst take on a PPC-HSH combination is favorable with the companies focused in different areas (chicken vs. packaged meat) which could lead to easy access to new distribution channels.
- Premarket: HSH +22.9% to $45.49, PF -5.3% to $31.50.
- Also on merger watch in the food sector: THS, SJM, GIS, KRFT, CPB, ADM, BGS, RAH, HAIN, K CAG
May 12, 2014, 7:13 AM
- A merger between Hillshire Brands and Pinnacle Foods could kickstart the consolidation frenzy in the food industry analysts have been forecasting.
- The sector has been tapped to see a high rate of mergers and buyouts due to the significant synergies that could be unleashed through combinations.
- On watch: THS, SJM, GIS, KRFT, CPB, ADM, BGS, RAH, HAIN, K, CAG
Apr. 3, 2014, 4:57 PM
- B&G Foods (BGS) is acquiring Specialty Brands of America, a maker or soups, pasta/rice dishes, syrups, flatbreads, margarine, and other packaged foods, for $155M in cash.
- Specialty Brands is expected to have annual revenue of $85M, and adjusted EBITDA of $20M. The deal is expected to close in Q2 or Q3, and be funded by a mixture of cash on hand and credit facility borrowings.
- B&G expects the acquisition to be immediately accretive to EPS and free cash flow.
Jun. 10, 2013, 9:10 AM
B&G Foods (BGS) buys Robert's American Gourmet Foods in a $195M cash deal. By making the acquisition, B&G will pick up the Pirate's Booty, Smart Puffs, and Original Tings brands.| Jun. 10, 2013, 9:10 AM | 1 Comment
May 7, 2013, 8:24 AM
B&G Foods (BGS) buys the TrueNorth brand from DeMet's Candy Company for an undisclosed amount. It continues a trend by the company of beefing up its snacks portfolio through acquisitions.| May 7, 2013, 8:24 AM
Oct. 31, 2011, 11:35 AM
May 20, 2011, 8:47 AM
Sources say Ralcorp (RAH) has been shopping around its Post cereals division to GIS, PEP, K, BGS and even BX and KKR in recent weeks, but has found little interest in the ~$2B unit. It's questionable whether a sale would give RAH enough firepower to fend off ConAgra (CAG), but no sale means it will need to rely on its poison pill and legal red-tape to block the deal.| May 20, 2011, 8:47 AM