B&G Foods has acquired US baking powder manufacturer Clabber Girl Corporation from Hulman & Company.
The deal includes the Rumford, Davis, Hearth Club, Clabber Girl and Royal brands of retail baking powder, baking soda and corn starch, as well as the Royal brand of foodservice dessert mixes.
New Jersey-headquartered B&G Foods projects that the acquired business will generate approximately $70 million to $75 million of net sales on an annualised basis.
“We are pleased to announce the addition of Clabber Girl to our portfolio of brands,” said Kenneth Romanzi, president and CEO 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.”
In November, Clabber Girl partnered with Diageo to release Baileys-flavoured baking chocolate chips, which are said to deliver the flavour of the cream liqueur and can be enjoyed as a snack or as part of a baking mix.
B&G Foods, which owns brands such as Baker’s Joy baking spray and Sugar Twin sweetener, last year acquired the McCann’s Irish Oatmeal brand from TreeHouse Foods in a $32 million deal.
For its 2019 fiscal year, B&G expects to record net sales of between $1.64 billion and $1.67 billion and adjusted EBITDA of between approximately $305 million and $320 million.
© FoodBev Media Ltd 2019
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