B&G Foods buys Mama Mary’s pizza crusts for $50 million in cash
“We are delighted to welcome Spartan Foods of America and the Mama Mary’s brand to the B&G Foods family,” stated Robert C. Cantwell, president and chief executive officer of B&G Foods.
“Under the leadership of Linsalata Capital, the company has built a solid and profitable business.”
“The Mama Mary’s brand complements very well our existing portfolio of brands, including our Don Pepino pizza sauce. And, consistent with our acquisition strategy, we expect the acquisition to be immediately accretive to our earnings per share and free cash flow.”
B&G Foods projects that after being fully integrated into B&G Foods, the Mama Mary’s brand will generate on an annualized basis net sales of approximately $35 million and adjusted EBITDA of approximately $7.5 million.
B&G Foods funded the acquisition and will pay related fees and expenses with cash on hand. ■
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