B&G Foods has acquired Spartan Foods of America, which manufactures the Mama Mary's pizza crust brand, from Linsalata Capital Partners for around US$50m in cash.
"We are delighted to welcome Spartan Foods of America and the Mama Mary’s brand to the B&G Foods family," B&G president and CEO Robert Cantwell said. "Under the leadership of Linsalata Capital, the company has built a solid and profitable business."
Mama Mary's is the largest US shelf-stable pizza crust brand in retail channels by unit volume. Cantwell said the Mama Mary's brand is complementary to B&G's existing brands, including Don Pepino pizza sauce.
"Consistent with our acquisition strategy, we expect the acquisition to be immediately accretive to our earnings per share and free cash flow," Cantwell said.
The acquisition will be funded through cash on hand, the company revealed.