PARSIPPANY, N.J. — B&G Foods, Inc. has acquired Victoria Fine Foods L.L.C., Brooklyn, from Huron Capital Partners for approximately $70 million. The company sells sauces, condiments and spreads under such brands as Victoria and Gina Rispoli.
|Robert C. Cantwell, president and c.e.o. of B&G Foods|
“We are delighted to welcome Victoria Fine Foods and the Victoria premium pasta sauce brand to the B&G Foods family,” said Robert C. Cantwell, president and chief executive officer of B&G Foods. “The Victoria brand complements very well our existing portfolio of brands, including our Don Pepino pizza sauces, Sclafani crushed tomatoes and Emeril’s pasta sauces. And, consistent with our acquisition strategy, we expect the acquisition to be immediately accretive to our earnings per share and free cash flow.”
The company projects that after it integrates the Victoria brand that it will generate annual sales of approximately $41 million and adjusted EBITDA of approximately $9 million.
The acquisition represents the company’s second during 2016. This past September, B&G Foods acquired the spice business of ACH Food Companies, Cordova, Tenn., for $365 million.