B&G Foods acquires tomato products business
November 19, 2010
by Keith Nunes
PARSIPPANY, N.J. – B&G Foods, Inc. has acquired the fresh packed tomato business of Violet Packing, L.L.C., Williamstown, N.J. The acquisition includes Don Pepino, Sclafani and Violet brands. The terms of the agreement were not disclosed.
The acquired product lines include pizza and spaghetti sauces, crushed tomatoes, tomato puree and whole peeled tomatoes that are sold primarily in the eastern United States.
“We are very pleased to add Sclafani, Don Pepino and Violet to our strong portfolio of brands,” said David L. Wenner, president and chief executive officer of B&G Foods. “We project that the Violet Packing business will generate net sales of $13 to $15 million, EBITDA of $2 (million) to $3 million, and incremental earnings per share of 2c during fiscal 2011, and that the acquisition will be immediately accretive to our free cash flow.”