B&G Foods authorized to buy back $25 million of 7 5/8% notes, stock

By Angela McDaniels

Tacoma, Wash., April 26 - B&G Foods, Inc. can repurchase up to $25 million of its 7 5/8% senior notes due 2018 and/or common stock through March 31, 2012, according to the company's 10-Q report for the first quarter filed with the Securities and Exchange Commission.

The board of directors authorized the repurchase program on Feb. 22.

B&G Foods may repurchase common stock and/or notes from time to time in the open market or in privately negotiated transactions.

The timing and amount of any repurchases will depend on available cash, market conditions and other considerations. The company had $99.57 million of cash and cash equivalents as of April 2.

Any shares or notes repurchased under the program will be canceled.

The company said it did not repurchase any common stock or 7 5/8% notes during the first quarter of 2011 or 2010.

B&G Foods is a Parsippany, N.J., manufacturer and distributor of shelf-stable branded food products.

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