B&G Foods Inc. acquires Spartan Foods of America Inc. for $50 million

 

B&G Foods Inc. (NYSE: BGS) stated that it would be acquiring Spartan Foods of America Inc. from Linsalata Capital and other sellers for roughly $50million in cash, subject to adjustments.

Spartan Foods of America Inc. is a manufacturer of branded pizza crusts sold primarily through grocery and retail channels. The company’s flagship brand, “Mama Mary’s,” is sold in more than 25,000 outlets nationwide.“(Spartan Foods “Mama Mary’s” brand) complements very well our existing portfolio of brands, including our Don Pepino pizza sauce.” – Robert C. Cantwell, president and CEO of B&G Foods

B&G Foods released news about its projects, stating that after fully integrated the company into B&G Foods, the Mama Mary’s brand is estimated to generate an annual sale of $35 million and an adjusted EBITDA of $7.5 million.

This deal marks the exit for Linsalata Capital in the food sector.

“We are pleased with the outcome of our investment in Spartan Foods and have enjoyed working with its outstanding management team… …Mama Mary’s will be a great addition to the B&G Foods family of brands.” – Dan DeSantis, managing director of Linsalata Capital.

Source: Cleveland Business