US group B&G Foods has entered into an agreement to acquire all-natural snack company Robert’s American Gourmet Food, also known as Pirate Brands.
The company will pay US$195m to the current owners of Pirate Brands, VMG Partners, Driven Capital Management and founder Robert Ehrlich.
“We are delighted to add Pirate Brands, including the iconic Pirate’s Booty, to the B&G Foods family of brands. The acquisition of this business and its collection of growing natural snack foods, marks the second addition to our snack foods portfolio since we entered the category last October,” said David Wenner, president and CEO of B&G Foods.
Pirate Brands’ produces all-natural, trans fat and gluten free snack brands including Pirate’s Booty, Smart Puffs and Original Tings. B&G projects that following the acquisition and integration, Pirate Brands will generate net sales of $80m to $90m and adjusted EBITDA of $18m to $20m on an annualised basis.