B&G Foods Acquires Rickland Orchards For $57.5 Mln. - Quick Facts

(RTTNews) - B&G Foods Inc. (BGS) said Monday it has acquired Rickland Orchards LLC from Natural Instincts LLC for about $57.5 million, subject to post-closing adjustments.

The deal consideration comprised about $37.4 million in cash and nearly $20 million in shares of common stock of B&G Foods.

Natural Instincts will also be entitled to earn-out payments if certain performance goals are achieved.

The acquisition of Rickland Orchards, whose products include Greek yogurt coated granola bars and bites, is the fourth acquisition by B&G Foods since October 2012.

The Rickland Orchards brand, launched in March 2012, has recorded annualized net sales of over $50 million, with robust presence across the club, retail, mass and convenience channels, the company said.