B&G Foods has completed its acquisition of the Grandma’s Molasses brand from Mott’s LLP, a Cadbury Schweppes Americas Beverages company, for the previously announced price of US$30m in cash and certain assumed liabilities. B&G Foods used the proceeds of a new $25m term loan under its existing credit facility, as amended, together with cash on hand to fund the acquisition.
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Grandma’s Molasses is the leading brand of premium-quality molasses sold in the US. The products are distributed nationally and in all trade channels, with the majority of sales originating from the grocery, food service and mass merchandiser segments of the market.
David L. Wenner, CEO of B&G Foods, said: “We are pleased to have completed this acquisition, which complements our brand portfolio, leverages our existing infrastructure and positions us well for future growth.”
