Today, B&G Foods Inc. announced that it had acquired Rickland Orchards. B&G Foods acquired Rickland Orchards from Natural Instincts LLC.
According to the President and CEO of B&G Foods, "We are delighted to welcome Rickland Orchards, Jason Cohen and Michael Sands to the B&G Foods family. Jason and Michael have a strong history of developing, marketing and building brands, especially in the club channel. Under their leadership the Rickland Orchards brand, which was launched in March 2012, has already achieved annualized net sales exceeding $50.0 million, with a strong presence across the club, retail, mass and convenience channels. Combining the talents of Jason and Michael with B&G Foods' existing strong management team and sales force will benefit both Rickland Orchards and B&G Foods' base business."
The acquisition of Rickland Orchards is the fourth transaction that B&G Foods had made since October 2012. The transaction was paid around USD57.5 million, subject to post closing adjustments. The deal was paid in a combination of cash and shares of stock of B&G Foods valued USD37.4 million and USD20.1 million, respectively.
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