B&G Foods acquires New Jersey's Violet Packing fresh packed tomato products business, including Sclafani, Don Pepino and Violet brands, projects acquired business to generate net sales of US$13M-US$15M in fiscal 2011
PARSIPPANY, New Jersey
November 19, 2010
– B&G Foods, Inc. (NYSE:BGS - News) announced today that it has acquired the Violet Packing fresh packed tomato products business, including the Sclafani, Don Pepino and Violet brands.
David L. Wenner, President and Chief Executive Officer of B&G Foods, stated “We are very pleased to add Sclafani, Don Pepino and Violet to our strong portfolio of brands. We project that the Violet Packing business will generate net sales of $13 to 15 million, EBITDA of $2 to $3 million, and incremental earnings per share of $0.02 during fiscal 2011, and that the acquisition will be immediately accretive to our free cash flow.”
Violet Packing’s products, which include pizza and spaghetti sauces, crushed tomatoes, tomato puree and whole peeled tomatoes are made using only the finest tomatoes with no added preservatives, citric acid or corn syrup providing a unique, all natural and healthy taste profile. The products are sold under the Don Pepino, Sclafani and Violet brand names to leading foodservice distributors, restaurants and retailers throughout the Eastern United States.
The terms of the acquisition, which was funded from cash on hand, were not disclosed. As part of the acquisition, B&G Foods has acquired the Violet Packing name and Violet Packing’s manufacturing facility in Williamstown, New Jersey. B&G Foods did not acquire Violet Packing’s DeIorio pizza dough business.
About B&G Foods, Inc.
B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, shelf-stable foods across the United States, Canada and Puerto Rico. B&G Foods’ products include hot cereals, fruit spreads, canned meats and beans, spices, seasonings, marinades, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, Mexican-style sauces, taco shells and kits, salsas, pickles, peppers and other specialty food products. B&G Foods competes in the retail grocery, food service, specialty, private label, club and mass merchandiser channels of distribution. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’cent, B&G, B&M, Brer Rabbit, Cream of Rice, Cream of Wheat, Emeril’s, Grandma’s Molasses, Joan of Arc, Las Palmas, Maple Grove Farms of Vermont, Ortega, Polaner, Red Devil, Regina, Sa-són, Trappey’s, Underwood, Vermont Maid, Wright’s and now, Don Pepino, Sclafani and Violet.
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