B&G Foods Completes Acquisition of College Inn and Kitchen Basics Brands for $110mln

B&G Foods has completed the acquisition of Del Monte Foods' broth and stock business, including the College Inn and Kitchen Basics brands, for approximately $110 million in cash. The acquisition is expected to be immediately accretive to B&G Foods' earnings per share, adjusted EBITDA, and free cash flow. The acquired brands are projected to generate net sales in the range of $110-120 million, adjusted EBITDA of $18-22 million, and adjusted diluted earnings per share of $0.08-0.12 on an annualized basis.