B&G Foods seeking US$500M in loans to help finance purchase of Culver Specialty Brands from Unilever

Nevin Barich

Nevin Barich

Nov 4, 2011 – Industry Intelligence

LOS ANGELES , November 4, 2011 () – According to a person with knowledge of the matter, Cream of Wheat and Ortega products maker B&G Foods Inc. is seeking US$500 million in loans to help finance its purchase of Culver Specialty Brands from Unilever Plc, Bloomberg reported Nov. 4.

The person, who declined to be identified because the deal is private, said the financing includes a $300 million term loan B, a $100 million term A piece and a $100 million revolving credit line.

According to an Oct. 28 statement from Unilever, B&G agreed to buy Culver from Unilever from $325 million in cash.

The primary source of this article is Bloomberg, New York, New York, on Nov. 4, 2011.

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