B&G Foods gets commitments to fund $325 million acquisition, repayment of credit facilities

By Angela McDaniels

Tacoma, Wash., Oct. 28 - B&G Foods, Inc. will use new senior secured debt to fund its $325 million acquisition of six brands from Unilver United States, Inc., according to a company news release.

The company has received financing commitments for the debt financing from Credit Suisse, Barclays Bank plc and Royal Bank of Canada. The amount is enough to fund the purchase price of the acquisition and to refinance the company's existing senior secured credit facilities.

B&G Foods is acquiring Mrs. Dash, Molly McButter, Sugar Twin, Baker's Joy, Static Guard and Kleen Guard. It expects the acquisition and the related financing to close before the end of the year.

B&G Foods and its subsidiaries manufacture, sell and distribute shelf-stable food. It is based in Parsippany, N.J.

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