B&G Foods buys Del Monte Foods’ broth brands for $110M

Group 1 - B&G Foods is acquiring Del Monte Foods' broth and stock business, including the College Inn and Kitchen Basics brands, for approximately $110 million [6][8] - This acquisition marks a strategic shift for B&G, which has been divesting brands to focus on core operations and reduce debt [3][4] - The company anticipates that the acquisition will be immediately accretive to earnings per share, adjusted EBITDA, and free cash flow [6][5] Group 2 - The acquisition aligns with B&G's strategy of targeting well-established brands with strong market positions and cash flow at reasonable purchase price multiples [5] - The College Inn and Kitchen Basics brands are expected to generate annual net sales between $110 million and $120 million [6] - The deal is expected to close in the first quarter following court approval and the sale of unrelated assets by Del Monte [8]