USA: B&G Foods sells Burns & Ricker, Inc. to Nonni's Food Company
B&G Foods, Inc. announced yesterday that it has completed the sale of its wholly owned subsidiary, Burns & Ricker, Inc., to Nonni's Food Company, Inc. Under the stock purchase agreement entered into today by B&G and Nonni's, B&G sold all of the issued and outstanding capital stock of Burns & Ricker for an undisclosed cash amount. B&G will apply the net cash proceeds from the sale of Burns & Ricker toward the partial prepayment of indebtedness under B&G's senior credit facility. Burns & Ricker produces lines of bagel chips, pita crisps, biscotti, and crispini, a crisp flatbread made without yeast.
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