Parsippany, New Jersey-based B&G Foods has entered into an agreement to sell the Back to Nature brand to Barilla America.
“Our decision to sell Back to Nature is part of a broader effort at B&G Foods to focus our portfolio on businesses that are core to our long-term strategy as we transition to a business unit structure,” said Casey Keller, president and CEO. “The divestiture will also allow us to reduce long-term debt, while providing Barilla America with a great brand.”
The terms of the transaction were not disclosed. B&G Foods expects the sale to close early 2023, subject to the satisfaction of customary closing conditions. B&G Foods intends to use the net proceeds from the sale for the repayment of long-term debt.
Barilla, a fourth-generation family-owned company founded in 1877, is an international food company distributing pasta and bakery products. The acquisition of the Back to Nature brand is also consistent with Barilla’s long-term strategy to build a strong multi-brand bakery platform in the U.S. The acquisition of the brand provides Barilla with a platform from which to build and grow in the North American bakery marketplace.
“At Barilla, we aspire to build a long-term and significant presence in the U.S. baking industry and this operation reminds me of when we first started our journey with pasta more than 25 years ago and we are now the market leader. The acquisition of Back to Nature is a key step for this exciting journey,” said Guido Barilla, chairman of the Barilla Group.
“We focus all our business activities and products on health and indulgence and hence Back to Nature was a natural choice. We are excited to see how our efforts will evolve in the future.”
For more information about B&G Foods and its brands, visit bgfoods.com.
