B&G Foods Inc. entered into an agreement to acquire Specialty Brands of America.
April 5/Parsippany, N.J./Business Wire -- B&G Foods Inc., manufacturer of shelf-stable foods, entered into an agreement to acquire Specialty Brands of America Inc., a packaged foods company with assorted brands, and related entities from affiliates of American Capital, Ltd. and certain individuals for approximately $155 million in cash, subject to certain closing and post-closing adjustments.
“We are excited to have reached an agreement to acquire Specialty Brands of America,” stated David L. Wenner, president and chief executive officer of B&G Foods. “Under the leadership of American Capital and Dom Bastien, the founder and chief executive officer of Specialty Brands, the company has built a solid and profitable business that continues to grow.”