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B&G Foods, Inc. (NYSE:BGS) announced today that it has sold its Don Pepino and Sclafani brands of pizza and spaghetti sauces, crushed tomatoes, tomato puree and whole peeled tomatoesto Violet Foods LLC, a newly formed portfolio company of Amphora Equity Partners LLC. The sale included the manufacturing facility in Williamstown, New Jersey where the products are produced.
B&G Foods intends to use the net proceeds from the sale for the repayment of long-term debt.
The terms of the transaction were not disclosed. BofA Securities, Inc. acted as financial advisor to B&G Foods.
Posted In: BGS