[ad_1]
PARMA, ITALY — The Barilla Group is acquiring the Back to Nature brand from B&G Foods, Inc., Parsippany, NJ. Terms of the acquisition were not disclosed.
Back to Nature is a manufacturer of cookies, crackers, granola and nuts and trail mix. B&G Foods acquired the brand in 2017 for approximately $162.5 million.
“At Barilla, we aspire to build a long-term and significant presence in the US baking industry and this operation reminds me of when we first started our journey with pasta over 25 years ago and we are now the market leader,” said Guido Barilla, chairman of the Barilla Group. “The acquisition of Back to Nature is a key step for this exciting journey. 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.”
The transaction is expected to close in the first quarter of 2023.
B&G Foods said in early November that it was seeking to divest the Back to Nature business.
“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 chief executive officer of B&G Foods. “The divestiture will also allow us to reduce long-term debt, while providing Barilla America with a great brand.”
[ad_2]
Source link