“We are very pleased to add these six brands to the B&G Foods portfolio,” said David L. Wenner, president and chief executive officer of B&G Foods. “Mrs. Dash seasonings have a unique position within the seasonings category and are very relevant to today’s health conscious consumer. The other brands in the transaction are also consistent with B&G Foods’ acquisition strategy of acquiring smaller, high-margin brands. We expect the acquisition to enhance the already high margin structure of B&G Foods and to be immediately accretive to our earnings per share and free cash flow.”
B&G Foods said it expects to fund the acquisition with additional debt.
Mrs. Dash, which was introduced in 1983, is a salt-free seasoning. Baker’s Joy is a no-stick baking spray. Sugar Twin is a calorie-free sugar substitute, and Molly McButter is the No. 2 brand in the butter sprinkles segment, with fat-free butter and cheese varieties.
Static Guard and Kleen Guard are two non-food brands.
Unilever said the Culver Specialty Brands products are manufactured at third-party facilities and that no Unilever-owned plants will affected by the transaction.