B&G buys Victoria Fine Foods

9 Dec 2016

US manufacturer and distributor of branded shelf-stable and frozen foods B&G Foods has acquired Victoria Fine Foods from Huron Capital Partners and certain other sellers for approximately $70.0 million.

B&G buys Victoria Fine Foods

US manufacturer and distributor of branded shelf-stable and frozen foods B&G Foods has acquired Victoria Fine Foods from Huron Capital Partners and certain other sellers for approximately $70.0 million in cash, subject to a customary working capital adjustment.

“We are delighted to welcome Victoria Fine Foods and the Victoria premium pasta sauce brand to the B&G Foods family,” said Robert C. Cantwell, President and Chief Executive Officer of B&G Foods. “The Victoria brand complements very well our existing portfolio of brands, including our Don Pepino pizza sauces, Sclafani crushed tomatoes and Emeril’s pasta sauces. And, consistent with our acquisition strategy, we expect the acquisition to be immediately accretive to our earnings per share and free cash flow.”

B&G Foods projects that after it fully integrates the Victoria brand, the brand will generate on an annualized basis net sales of approximately $41.0 million and adjusted EBITDA of approximately $9.0 million.

Victoria Fine Foods is a Brooklyn-based business founded in 1929. The Victoria brand offers a variety of premium pasta and specialty sauces, savory condiments and tasty gourmet spreads. Using traditional cooking methods, Victoria sauces are slow kettle-cooked in small batches to ensure rich flavour and a homemade taste.