US: B&G Foods prices public offering
By Michelle Russell | 5 October 2012
 |
B&G Foods said it expects to receive net proceeds of $104.5m from the IPO |
US food firm B&G Foods has announced the pricing of its public offering.
In a statement this week, B&G Foods confirmed the pricing of its public offering of 3.6m shares at US$30.25 per share.
The offering is expected to close on 9 October, and in connection with the offering, the company has granted the underwriters an option for a period of 30 days to purchase up to an additional 544,375 shares of common stock.
B&G Foods said it expects to receive net proceeds of $104.5m, or $120.3m if the underwriters exercise their option, which it says may be used for the payment of "all or a portion" of its recent acquisition of the New York Style and Old London brands or any future acquisitions. It may also use it for the repayment of its long-term debt, it said.
Credit Suisse Securities, Barclays Capital and RBC Capital Markets are acting as joint book-running managers. BofA Merrill Lynch and Deutsche Bank Securities are acting as co-managers for the offering.
Sectors: Bakery, Canned food, Cereal, Chilled foods, Dried foods, Financials
Companies: B&G Foods
View next/previous articles
5 Oct 2012 -
Currently reading -
US: B&G Foods prices public offering
5 Oct 2012 -
5 Oct 2012 -
Related research
Prepared Foods and Ready-to-Eat Foods at Retail: The New Competition to Foodservice
This latest report offers the foodservice and retail industries new insight into the highly competitive prepared and ready-to-eat foods space. Relying heavily on proprietary consumer research analysis, the report provides “consumer drilldowns” and ps...
Whole Foods Market: The biggest retailer of organic and natural foods in the world
Whole Foods Market has a strong emphasis on perishable foods, designed to appeal to natural and organic food shoppers. It aspires to become an international brand synonymous with natural and organic foods, and the highest quality food retailer in eve...
Ambient Soup Market in Japan to 2016
The report presents detailed data on consumption trends in the Ambient Soup category in Japan, analyzing consumption volumes and values. It also provides indispensable data on distribution channels, profiles of companies active in the Soup sector and...
Related articles
Editor's choice: the highlights on just-food this week
Dairy featured heavily in our headlines last week. We interviewed Fonterra's CFO about the New Zealand giant's half-year results and plans for emerging markets. Swiss peer Emmi published its annual figures and we spoke to its international boss about its plans outside its domestic market. Meanwhile, in the UK, Greek yoghurt producer Fage won its court battle with rival Chobani over how the US firm labels its products here.
Quote, unquote: just-food's week in words
Last week, just-food grilled a number of top executives on their growth plans and strategy for the future. Fonterra CFO Jonathan Mason told how the New Zealand dairy giant is exploiting increased demand for dairy in emerging markets. The head of Emmi's international business talked about international sales targets. And Divine Chocolate's commercial director told us about how it is facing pressure on Fairtrade specialists.
US: Pinnacle Foods prices IPO at high end of target
US food group Pinnacle Foods has priced its initial public offering at the high end of expectations.
There are currently no comments on this article
Be the first to comment on this article