M&A Deal Summary

B&G Foods Acquires Specialty Brands of America

On April 3, 2014, B&G Foods acquired food company Specialty Brands of America from American Capital and Commonwealth Venture Funding for 155M USD

Acquisition Highlights
  • This is B&G Foods’ 9th transaction in the Food sector.
  • This is B&G Foods’ 8th largest (disclosed) transaction.
  • This is B&G Foods’ 9th transaction in the United States.
  • This is B&G Foods’ 2nd transaction in New York.

M&A Deal Summary
Date 2014-04-03
Target Specialty Brands of America
Sector Food
Buyer(s) B&G Foods
Sellers(s) American Capital
Commonwealth Venture Funding
Deal Type Add-on Acquisition
Deal Value 155M USD

Target

Specialty Brands of America

Westbury, New York, United States
website
Specialty Brands is a packaged foods company with a portfolio of strong and differentiated brands. Specialty Brands’ largest brand is Bear Creek Country Kitchens. Bear Creek is the leading brand of hearty dry soups in the United States. Bear Creek also offers a line of savory pasta dishes and hearty rice dishes. Specialty Brands also offers Spring Tree, Cary’s and MacDonald’s pure maple syrups and pancake syrups, New York Flatbreads and Canoleo margarine.

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Buyer(S) 1

Buyer

B&G Foods

Parsippany, New Jersey, United States

website

Category Company
Founded 1822
Sector Food
Employees2,982
Revenue 2.1B USD (2021)
DESCRIPTION

B&G Foods is a manufacturer, seller and distributor of a diversified portfolio of high-quality, shelf-stable branded food products including pickles and peppers, hot sauces, wine vinegar, maple syrup, molasses, snack foods, fruit spreads, pasta sauces, beans, ready-to-use spices, salad dressings, marinades, taco shells and kits, and taco sauce and seasonings. B&G Foods was incorporated in 1822 and is based in Parsippany, New Jersey.

DEAL STATS #
Overall 9 of 19
Sector (Food) 9 of 19
Type (Add-on Acquisition) 4 of 9
State (New York) 2 of 3
Country (United States) 9 of 19
Year (2014) 1 of 1
Size (of disclosed) 8 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-07 Rickland Orchards

Fairfield, New Jersey, United States

Rickland Orchards LLC is a producer of Greek yogurt-coated granola bars and bites. Rickland Orchards’ products blend a strained Greek yogurt coating with roasted nuts, granola and fruit to create convenient, great-tasting and protein-packed snacks, and can be found in over 15,000 locations in North America.

Buy $58M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-13 Spartan Foods of America

Spartanburg, South Carolina, United States

Spartan Foods of America is a manufacturer of branded pizza crusts sold primarily through grocery and retail channels.

Buy $50M

Seller(S) 2

SELLER

American Capital

website

Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.

DEAL STATS #
Overall 153 of 194
Sector (Food) 9 of 9
Type (Add-on Acquisition) 74 of 87
State (New York) 6 of 8
Country (United States) 149 of 186
Year (2014) 3 of 13
Size (of disclosed) 33 of 56
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-02 ADF Holdings

Indianapolis, Indiana, United States

ADF Holdings, Inc. is a provider of engineered drilling fluid solutions and well site services to oil and natural gas land drillers.

Sell $33M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-16 Air Distribution Technologies

Richardson, Texas, United States

Air Distribution Technologies is a provider of air-distribution and ventilation products for residential and industrial buildings in North America, with brands such as Ruskin, Titus, Hart & Cooley and Krueger.

Sell $1.6B
SELLER

Commonwealth Venture Funding

Wakefield, Massachusetts, United States

website

Category Private Equity Firm
Founded 1998
Size Small
Type Sector Agnostic
DESCRIPTION

Commonwealth Venture Funding Group (CVFG) is an independent private equity firm focused on making investments in small and middle-market firms. CVFG areas of focus include manufacturing and value-added distribution for industrial markets, consumer durables, and food. The Firm prefers businesses located in the US and will only consider investments resulting in controlling interest. CVFG will not finance turnarounds. CVFG was formed in 1998 and is located in Wakefield, Massachusetts.

DEAL STATS #
Overall 1 of 2
Sector (Food) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (New York) 1 of 1
Country (United States) 1 of 2
Year (2014) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-09 Delta Electric

Logan, West Virginia, United States

Delta Electric is a distributor and provider of electrical engineering services to the Appalachian coal fields.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-22 Antaya Technologies

Cranston, Rhode Island, United States

Antaya Technologies Corp. is a manufacturer of on-glass connectors for the automotive glass industry.

Sell -
Mergr

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