Sector News

B&G Foods Acquires Mama Mary’s Pizza Crusts

July 15, 2015
Food & Drink
(BUSINESS WIRE) – B&G Foods, Inc. announced today that it has acquired Spartan Foods of America, Inc. dba Mama Mary’s and related entities from Linsalata Capital Partners and certain other sellers for approximately $50.0 million in cash, subject to certain post-closing adjustments.
 
“We are delighted to welcome Spartan Foods of Americaand the Mama Mary’s brand to the B&G Foods family,” stated Robert C. Cantwell, President and Chief Executive Officer of B&G Foods. “Under the leadership of Linsalata Capital, the company has built a solid and profitable business.”
 
Mr. Cantwell continued, “The Mama Mary’s brand complements very well our existing portfolio of brands, including our Don Pepino pizza sauce. And, consistent with our acquisition strategy, we expect the acquisition to be immediately accretive to our earnings per share and free cash flow.”
 
B&G Foods projects that after being fully integrated into B&G Foods, the Mama Mary’s brand will generate on an annualized basis net sales of approximately $35.0 million and adjusted EBITDA of approximately $7.5 million.
 
Mama Mary’s is the #1 brand of shelf-stable pizza crust, by unit volume, in the retail channel.
 
B&G Foods funded the acquisition and will pay related fees and expenses with cash on hand.
 
Duff & Phelps served as the investment banking advisor to Linsalata Capital Partners.
 
Source: B&G Foods

comments closed

Related News

September 22, 2023

Food safety in focus: Japan researchers advance rapid bacterial testing tech to prevent food poisoning

Food & Drink

A new technology that speeds up bacterial testing in food is showing promise to “revolutionize” the process of testing bacterial viability in food, according to Japan-based scientists who discovered the breakthrough in food safety. The technique can reportedly verify food safety before shipment from factories and prevent food poisoning.

September 22, 2023

Heineken Mexico invests €430m in new brewery

Food & Drink

Heineken Mexico plans to invest €430 million in the establishment of a new brewery in Yucatán, aiming to expand sustainable brewing practices and foster community growth. Construction will take place in the Kanasín municipality, marking the company’s inaugural brewery in southeastern Mexico.

September 22, 2023

KDP appoints Tim Cofer as COO, to assume CEO role in 2024

Food & Drink

Keurig Dr Pepper (KDP) has appointed former Mondelēz International executive Tim Cofer as its new chief operating officer, with plans for Cofer to succeed current CEO Bob Gamgort in the second quarter of 2024. Cofer, who will join KDP on 6 November, will work closely with Gamgort while in the capacity of COO.

How can we help you?

We're easy to reach