B&G Foods, the US owner of food brands such as Green Giant, has announced it is acquiring baking aids business Clabber Girl from Indiana-based wholesale supplier Hulman & Co for an undisclosed sum.
The Clabber Girl product range includes baking powder, bicarbonate of soda and cornflour marketed under brands such as Clabber Girl, Rumford, Davis, Hearth Club and Royal. B&G Foods said it expected the acquired business to generate approximately $70 to $75 million of net sales on an annualized basis.
“We are pleased to announce the addition of Clabber Girl to our portfolio of brands”, commented Kenneth G. Romanzi, president and chief executive officer of B&G Foods. “This acquisition is consistent with our longstanding acquisition strategy of targeting well-established brands with defensible market positions and strong cash flow at reasonable purchase price multiples. Clabber Girl Corporation is the number one manufacturer of branded retail baking powder and also holds leadership positions in baking soda and corn starch”.
Source: B&G Foods