B&G Foods, Inc. announced yesterday that it has completed the sale of its wholly owned subsidiary, Burns & Ricker, Inc., to Nonni’s Food Company, Inc. Under the stock purchase agreement entered into today by B&G and Nonni’s, B&G sold all of the issued and outstanding capital stock of Burns & Ricker for an undisclosed cash amount. B&G will apply the net cash proceeds from the sale of Burns & Ricker toward the partial prepayment of indebtedness under B&G’s senior credit facility. Burns & Ricker produces lines of bagel chips, pita crisps, biscotti, and crispini, a crisp flatbread made without yeast.
B&G Foods, Inc. is a diversified food products company with 2000 sales of approximately $350 million. The company was acquired in December 1996 by the New York investment firm Bruckmann, Rosser and Sherrill & Co., L.P. B&G Foods is headquartered in Parsippany, N.J., and manufactures and sells B&G® brand pickles, peppers, and specialty items, Trappey® peppers, Vermont Maid® syrup, Regina® wine vinegars, Brer Rabbit® molasses, Red Devil® hot sauces, Maple Grove Farms® syrups, salad dressings, and specialty items, B&M® baked beans, Underwood® canned meats, Accent® seasonings, Las Palmas® Mexican foods, Joan of Arc® beans, Polaner® fruit spreads and spices, plus the licensed products for Emeril Lagasse’s new Emeril’s Essence® seasonings, dressings, marinades, and pepper sauces.
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Nonni’s Food Company, Inc., headquartered in Tulsa, Okla., manufactures and sells Nonni’s Biscotti®, Cape Cod Cranberry Cookies®, and other cookie brands.
CONTACT: Robert C. Cantwell, or Al Soricelli, both of B&G Foods, 973-401-6500.
