B&G Foods has reported higher first-half profits as last year’s acquisition of a clutch of brands from Unilever continued to benefit the US food group.
The company yesterday (19 July) booked a 26.6% increase in net income to US$32.8m for the first six months of the year.
B&G bought a number of Unilever’s US brands last October. It said the brands had meant it was now selling a mix of higher-margin products.
Net sales increased 17.3% to $306m thanks to the Unilever deal. Sales from B&G’s base business were flat as price increases worth $6.8m were matched by volume declines of the same amount.