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

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