B&G Foods, a US-based manufacturer, seller and distributor of branded shelf-stable foods, has acquired Rickland Orchards from Natural Instincts for about $57.5m, subject to post-closing adjustments.
The deal consideration comprised about $37.4m in cash and nearly $20m in shares of common stock of B&G Foods. Natural Instincts will also be entitled to earn-out payments if certain performance goals are achieved.
The acquisition of Rickland Orchards is the fourth acquisition by B&G Foods since October 2012.
The Rickland Orchards brand, launched in March 2012, has witnessed annualized net sales of over $50m, with robust presence across the club, retail, mass and convenience channels, the company said.
Based in Parsippany, New Jersey, B&G Foods products are marketed under many recognized brands, including Ac'cent, B&G, B&M, Baker's Joy, Brer Rabbit, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Emeril's, Grandma's Molasses, JJ Flats, Joan of Arc, Las Palmas, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Style, Old London, Original Tings, Ortega, Pirate's Booty, Polaner, Red Devil, Regina, Sa-són, Sclafani, Smart Puffs, Sugar Twin, Trappey's, TrueNorth, Underwood, Vermont Maid, and Wright's.
The deal consideration comprised about $37.4m in cash and nearly $20m in shares of common stock of B&G Foods. Natural Instincts will also be entitled to earn-out payments if certain performance goals are achieved.
The acquisition of Rickland Orchards is the fourth acquisition by B&G Foods since October 2012.
The Rickland Orchards brand, launched in March 2012, has witnessed annualized net sales of over $50m, with robust presence across the club, retail, mass and convenience channels, the company said.
Based in Parsippany, New Jersey, B&G Foods products are marketed under many recognized brands, including Ac'cent, B&G, B&M, Baker's Joy, Brer Rabbit, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Emeril's, Grandma's Molasses, JJ Flats, Joan of Arc, Las Palmas, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Style, Old London, Original Tings, Ortega, Pirate's Booty, Polaner, Red Devil, Regina, Sa-són, Sclafani, Smart Puffs, Sugar Twin, Trappey's, TrueNorth, Underwood, Vermont Maid, and Wright's.
