07.01.13
In a $195 million deal, B&G Foods, Inc., Parsippany, NJ, has entered into an agreement to acquire Sea Cliff, NY-based Robert’s American Gourmet Food, LLC dba Pirate Brands, a leader in the all-natural snack foods category, from VMG Partners, Driven Capital Management, founder Robert Ehrlich and certain other entities and individuals.
Pirate Brands’ baked, all-natural, trans-fat and gluten-free snack brands include Pirate’s Booty, Smart Puffs and Original Tings. B&G Foods projects that following the acquisition, Pirate Brands will generate net sales of $80 million to $90 million and adjusted EBITDA of $18 million to $20 million on an annualized basis after the business is fully integrated into B&G Foods.
B&G Foods expects the acquisition to close in July 2013, subject to regulatory approval and the satisfaction of customary closing conditions.
Pirate Brands’ baked, all-natural, trans-fat and gluten-free snack brands include Pirate’s Booty, Smart Puffs and Original Tings. B&G Foods projects that following the acquisition, Pirate Brands will generate net sales of $80 million to $90 million and adjusted EBITDA of $18 million to $20 million on an annualized basis after the business is fully integrated into B&G Foods.
B&G Foods expects the acquisition to close in July 2013, subject to regulatory approval and the satisfaction of customary closing conditions.