B&G Foods acquires Victoria Fine Foods for $70 million
“We are delighted to welcome Victoria Fine Foods and the Victoria premium pasta sauce brand to the B&G Foods family,” stated Robert C. Cantwell, President and CEO of B&G Foods.
B&G Foods projects that after it fully integrates the Victoria brand, the brand will generate on an annualized basis net sales of approximately $41 million and adjusted EBITDA of approximately $9 million.
Victoria Fine Foods is a Brooklyn-based business founded in 1929. The Victoria brand offers a variety of premium pasta and specialty sauces, savory condiments and tasty gourmet spreads. Using traditional cooking methods, Victoria sauces are slow kettle-cooked in small batches to ensure rich flavor and a homemade taste.
Committed to its values of quality, honesty, authenticity and community, Victoria believes that Ingredients Come First.
B&G Foods funded the acquisition and related fees and expenses with cash on hand and additional revolving loans under its existing credit facility. ■
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