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.

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