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B&G Foods completes purchase of Culver Specialty Brands
B&G Foods has completed the purchase of the Mrs Dash, Molly McButter, Sugar Twin, Baker’s Joy, Static Guard and Kleen Guard brands from Unilever for $325m.
B&G Foods expects the acquisition to be immediately accretive to earnings per share and free cash flow.
Following the closing, the available borrowing capacity under the revolving credit facility is $174.5m. The proceeds of the borrowings under the new credit agreement, together with cash on hand, were used to refinance B&G Foods’ existing $130m credit facility, fund the acquisition purchase price and pay related transaction fees and expenses.
Source: B&G Foods
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