B&G Foods Acquires Rickland Orchards

B&G Foods (NYSE: BGS  ) has acquired Greek yogurt distributor Rickland Orchards from Natural Instincts. The company paid $57.5 million for Rickland Orchards, and the acquisition marks B&G's fourth acquisition since October 2012.

Rickland Orchards CEO and founder Jason Cohen and Chief Operating Officer Michael Sands will join B&G Foods following the merger. Cohen will assume the role of executive vice president of Club Channel, where he will oversee sales for the entire portfolio of B&G's brands into the club channel. Sands, meanwhile, will act as B&G's vice president of product innovation.

In a statement, Cohen said he believed his and Sands' "experience in the club channel and in developing on trend, innovative products combined with B&G Foods' seasoned management team, sales force and impressive portfolio of brands will result in continued growth for Rickland Orchards and incremental sales for B&G Foods' existing brands."

Since the start of 2013, B&G Foods has seen its price per share rise from $28.31 to $34.91, a 23% increase. The company has also experienced a 30% increase in annual revenue since 2008, bringing in $634 million last year.

link


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2673061, ~/Articles/ArticleHandler.aspx, 4/18/2014 2:42:24 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement