B&G Foods prices public offering

by Jeff Gelski
Share This:

PARSIPPANY, N.J. – B&G Foods, Inc. has priced its public offering of 3,629,165 shares of its common stock at $30.25 per share, the company said Tuesday. The offering is expected to close Oct. 9. B&G Foods has granted the underwriters an option for a 30-day period to purchase up to an additional 544,375 shares of common stock.

After deducting underwriting discounts and commissions and other estimated offering expenses, B&G Foods expects to receive net proceeds of $104.5 million, or $120.3 million if the underwriters exercise in full their option to purchase additional shares.

B&G Foods plans to use net proceeds of the offering for general corporate purchases, including helping to pay off the acquisition of the New York Style and Old London Brands that were acquired from Chipita America, Inc. last month. B&G Foods’ products include hot cereals, fruit spreads, canned meats and other specialty products.

Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.



The views expressed in the comments section of Baking Business News do not reflect those of Baking Business News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.