B&G Foods to Acquire Iconic Green Giant® Brand

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Go back to B&G Foods to Acquire Iconic Green Giant® Brand

RBC Capital Raises Price Target on B&G Foods (BGS) to $43 Following Green Giant Acquisition

September 4, 2015 8:24 AM EDT

RBC Capital reiterated an Outperform rating on B&G Foods (NYSE: BGS), and raised the price target to $43.00 (from $36.00), following announced acquisition of Green Giant. Analyst David Palmer said that with the deal, B&G's FY16e EPS rises 27% even with the assumption that it raises... More

Piper Jaffray Remains Neutral on B&G Foods (BGS) Following Announced Acquisition of Green Giant

September 3, 2015 1:05 PM EDT

Piper Jaffray reiterated a Neutral rating and $31.00 price target on B&G Foods (NYSE: BGS) following the announced acquisition of Green Giant from
General Mills for $765M. This deal drastically changes the makeup of B&G's sales and earnings, with frozen vegetables now representing 25% of... More

B&G Foods (BGS) to Acquire General Mills' (GIS) Green Giant, Le Sueur Brands in $765M Deal

September 3, 2015 8:34 AM EDT

B&G Foods (NYSE: BGS) announced that it has entered into an agreement to acquire the iconic Green Giant® and Le Sueur® brands, leaders in frozen and canned vegetables, from General Mills, Inc. (NYSE: GIS) for approximately $765 million in cash, subject to an inventory adjustment at closing. B&G Foods expects the acquisition to close during the fourth quarter of 2015, subject to customary closing conditions, including the receipt of regulatory approvals.

We are thrilled to welcome Green... More