B&G Foods finishes sale of Back to Nature
Sale proceeds will be used to repay long-term debt, purchase assets.
Courtesy of Barilla Group, B&G Foods
B&G Foods, Inc. announced that it has completed the sale of the Back to Nature brand to BA Brussels, LLC, a subsidiary of Barilla America, Inc.
B&G Foods intends to use the proceeds from the sale for general corporate purposes, including the repayment of long-term debt and the purchase of assets useful in B&G Foods’ business, and to pay taxes, fees and expenses related to the sale.
Barilla is currently a leader in the European bakery products sector with expertise in better-for-you snacking products. According to the company, the acquisition of Back to Nature provides Barilla with a strong platform from which to grow in the North American bakery marketplace.
“At Barilla, we aspire to build a long-term and significant presence in the U.S. baking industry and this operation reminds me of when we first started our journey with pasta over 25 years ago and we are now the market leader. The acquisition of Back to Nature is a key step for this exciting journey,” says Guido Barilla, chairman of the Barilla Group. “We focus all our business activities and products on health and indulgence and hence Back to Nature was a natural choice. We are excited to see how our efforts will evolve in the future.”
Based in Parsippany, New Jersey, B&G Foods and its subsidiaries manufacture, sell, and distribute 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, including B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Green Giant, Las Palmas, Le Sueur, Mama Mary’s, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands, and Victoria, there’s a little something for everyone. For more information about B&G Foods and its brands, visit bgfoods.com.
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