BGS - Mergers and acquisitions

B&G Foods, Inc. (NYSE:BGS) announced today that it has completed the acquisition of the broth and stock business of Del Monte Foods Corporation II Inc. and its affiliates, including the College Inn and Kitchen Basics brands, for approximately $110 million in cash. B&G Foods expects the acquisition to be immediately accretive to its earnings per share, adjusted EBITDA and free cash flow. B&G Foods projects that on an annualized basis, the College Inn and Kitchen Basics brands will generate net sales in the range of approximately $110 million to $120 million, adjusted EBITDA in the range of $18 million to $22 million and adjusted diluted earnings per share in the range of $0.08 to $0.12. Be

— Acquisition Expected to Reduce Supply Chain Risk and Reduce Costs for Certain Green Giant® Frozen Products — B&G Foods, Inc. (NYSE:BGS) announced that effective today it has acquired the frozen vegetable manufacturing operations of Growers Express, LLC. Growers Express is an industry innovator which manufactures, produces, packages and sells frozen vegetable products, primarily Green Giant® Riced Veggies and Green Giant Veggie Spirals®. The purchased assets include inventory, equipment, a sublease for a portion of a manufacturing facility in Yuma, Arizona, and a lease for a warehouse facility in San Luis, Arizona. Approximately 155 employees will transfer to B&G Foods. "By increasing th

PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE: BGS) today announced financial results for the fourth quarter and full year 2020, which include the favorable impact of continued strong demand for the Company’s products due to the ongoing COVID-19 pandemic and an extra reporting week in fiscal 2020 as compared to fiscal 2019, as well as the impact of the Crisco acquisition, which was completed on December 1, 2020. Fourth Quarter 2020 Financial Summary (vs. Fourth Quarter 2019 where applicable): Net sales increased 8.5% to $510.2 million Base business net sales1 increased 2.5% to $482.2 million Diluted earnings per share increased 18.8% to $0.19 Adjusted diluted e

PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE: BGS) announced that effective today it has completed the acquisition of the iconic Crisco brand of oils and shortening from The J. M. Smucker Co. for $550 million in cash, subject to a customary adjustment based upon inventory at closing. As part of the acquisition, B&G Foods also acquired a manufacturing facility and warehouse in Cincinnati, Ohio. B&G Foods expects the acquisition to be immediately accretive to its earnings per share and free cash flow. B&G Foods projects that in 2021, the acquired business will continue to benefit from increased demand due to the COVID-19 pandemic and generate annual net sales of approxima