Business
B&G Foods Completes Acquisition of the College Inn® and Kitchen Basics® Brands
PARSIPPANY, N.J., March 19, 2026--B&G Foods, Inc. (NYSE: BGS) announced today that it has completed the acquisition of the broth and stock business of Del Monte Foods Corporation II Inc. and its affiliates, including the College Inn and Kitchen Basics brands, for approximately $110 million in cash.
About this update from B&g Foods, Inc.
[{"type":"text","content":"PARSIPPANY, N.J., March 19, 2026--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE: BGS) announced today that it has completed the acquisition of the broth and stock business of Del Monte Foods Corporation II Inc. and its affiliates, including the College Inn and Kitchen Basics brands, for approximately $110 million in cash.","length":320,"tagName":"p"},{"type":"text","content":"B&G Foods expects the acquisition to be immediately accretive to its earnings per share, adjusted EBITDA and free cash flow. B&G Foods projects that on an annualized basis, the College Inn and Kitchen Basics brands will generate net sales in the range of approximately $110 million to $120 million, adjusted EBITDA in the range of $18 million to $22 million and adjusted diluted earnings per share in the range of $0.08 to $0.12. Because the acquisition was structured as an asset purchase, B&G Foods expects to realize approximately $15 million in tax benefits on a net present value basis. At the midpoint of B&G Foods’ annualized projected adjusted EBITDA for the business, the acquisition represents a purchase price multiple of approximately 5.5 times adjusted EBITDA (or 4.8 times annualized projected adjusted EBITDA net of expected tax benefits).","length":870,"tagName":"p"},{"type":"text","content":"B&G Foods funded the acquisition and related fees and expenses with cash on hand, including cash from divestitures, and revolving loans under its existing credit facility.","length":175,"tagName":"p"},{"type":"text","content":"About B&G Foods, Inc.Based in Parsippany, New Jersey, B&G Foods and its subsidiaries manufacture, sell and distribute high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. With B&G Foods’ diverse portfolio of more than 50 brands you know and love, including B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Green Giant, Las Palmas, Mama Mary’s, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands, Victoria and now, College Inn and Kitchen Basics, there’s a little something for everyone. For more information about B&G Foods and its brands, please visit www.bgfoods.com.","length":661,"tagName":"p"},{"type":"text","content":"About Non-GAAP Financial Measures and Items Affecting Comparability"Adjusted diluted earnings per share" (dilut...