Parsippany-based B&G Foods, Inc. announced that it has acquired the McCann’s brand of premium Irish oatmeal from TreeHouse Foods, Inc. for approximately $32 million in cash, subject to customary closing and post-closing adjustments.
“We are delighted to welcome the McCann’s brand to the B&G Foods family,” stated Robert C. Cantwell, president and chief executive officer of B&G Foods. “McCann’s is an excellent complement to our existing portfolio of brands, including our Cream of Wheat hot cereal brand. This acquisition is another example, along with our acquisitions of Green Giant, Spice Islands and other spices & seasoning brands, Victoria and Back to Nature, of our efforts in recent years to acquire better-for-you brands that taste great and resonate with today’s consumer.”
B&G Foods funded the acquisition and related fees and expenses with cash on hand and revolving loans under its existing credit facility.
B&G Foods and its subsidiaries manufacture sell and distribute high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Its diverse portfolio of more than 50 brands including Back to Nature, B&G, B&M, Cream of Wheat, Green Giant, La Palmas, Le Sueur, Mama Mary’s, Maple Grove Farms, Mrs. Dash, New York Style, Ortega, Pirate’s Booty, Polaner, SnackWell’s, Spice Islands, Victoria and now, McCann’s.
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