B&G Foods Completes Acquisition of Specialty Brands of America, including Bear Creek Country Kitchens®

PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE:BGS) announced today that it has completed the acquisition of Specialty Brands of America, Inc. and related entities from affiliates of American Capital, Ltd. and certain individuals for the previously announced price of approximately $155 million in cash, subject to certain post-closing adjustments. Specialty Brands is a leading packaged foods company with a portfolio of strong and differentiated brands. Specialty Brands’ largest brand is Bear Creek Country Kitchens, which is the leading brand of hearty dry soups in the United States. Bear Creek also offers a line of savory pasta dishes and hearty rice dishes. Specialty Brands also offers Spring Tree, Cary’s and MacDonald’s pure maple syrups and pancake syrups, New York Flatbreads and Canoleo margarine. B&G Foods expects the acquisition to be immediately accretive to earnings per share and free cash flow.