B&G Foods, the US foods manufacturer, has announced that it has entered into an agreement to acquire the spices and seasonings business of ACH for approximately $365 million in cash, subject to a post-closing inventory adjustment.
The ACH spices and seasonings business includes the Spice Islands, Tone’s and Durkee brand, in addition to Weber brand sauces and seasonings, which are sold under licence.
The acquisition also includes a manufacturing facility in Ankeny, IA, USA.
Commenting on the deal, B&G Foods president and CEO Robert C Cantwell said: “We are very pleased to add ACH’s spices and seasonings business, including the Spice Islands, Tone’s, Durkee and Weber brands to the B&G Foods portfolio. This acquisition will significantly broaden our position in the large and growing spices and seasonings category, which we believe is very relevant to today’s consumer, who is looking for healthier options, simple ingredients and enhanced flavor”.
The ACH deal is B&G’s second major acquisition in a little over a year. In Q2 2015, the firm announced it was acquiring the Green Giant frozen and canned vegetable business from General Mills.
Source: B&G Foods (via PR NewsWire)