B&G Foods (BGS) Ratings Placed on CreditWatch Negative by S&P
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RBC Capital Raises Price Target on B&G Foods (BGS) to $43 Following Green Giant Acquisition
September 4, 2015 8:24 AM EDTRBC 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 EDTPiper 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 to buy General Mills' Green Giant frozen foods business
September 3, 2015 9:15 AM EDTBy Ramkumar Iyer
(Reuters) - Snack food company B&G Foods Inc (NYSE: BGS) said it would buy General Mills Inc's (NYSE: GIS) Green Giant frozen foods and Le Sueur canned vegetables brands for about $765 million to expand its distribution network and enter the frozen foods market.
Shares of B&G, which expects the deal to add to earnings immediately, rose as much as 14 percent to a 14-month high on Thursday.
Growth in the frozen vegetables category has been sluggish in recent years as... More
