B&G Foods Acquires Farmwise®
February 19 2020 - 05:15PM
Business Wire
— Expects to Introduce New Green
Giant® Frozen Items Based On Products Developed by
Farmwise —
B&G Foods, Inc. (NYSE: BGS) announced that effective today
it has acquired Farmwise LLC, proud creator of Veggie Fries®,
Veggie Tots® and Veggie Rings®.
“We are excited to increase our great tasting, plant-based
product offerings with the acquisition of Farmwise,” stated Jordan
Greenberg, Executive Vice President and Chief Commercial Officer of
B&G Foods. “Dave and Cristina Peters, the founders of Farmwise,
have done a tremendous job developing delicious, plant-based
products, including Veggie Fries®, Veggie Tots® and Veggie Rings®,
that both parents and children love. We look forward to further
supporting the Farmwise brand in the natural channel while also
introducing items that Farmwise has developed into new, innovative
product offerings for our Green Giant brand.”
B&G Foods funded the acquisition with cash on hand. Terms of
the transaction were not disclosed.
About Farmwise LLC
Based in Wellesley, Massachusetts, Farmwise LLC was founded by
parents Dave and Cristina Peters with a mission of developing
healthier alternatives to some of America’s favorite foods without
compromising on taste. Farmwise® Veggie Fries®, Veggie Tots® and
Veggie Rings® are vegan, Non-GMO Project Verified and free of the
top 8 allergens including gluten, wheat, soy, dairy, tree nuts and
peanuts. Farmwise products are found in supermarkets across the
United States. For more information, please visit
www.farmwisefoods.com.
About B&G Foods, Inc.
Based in Parsippany, New Jersey, B&G Foods and its
subsidiaries manufacture, sell and distribute high-quality, branded
shelf-stable and frozen foods across the United States, Canada and
Puerto Rico. With B&G Foods’ diverse portfolio of more than 50
brands you know and love, including Back to Nature, B&G,
B&M, Cream of Wheat, Green Giant, Las Palmas, Le Sueur, Mama
Mary’s, Maple Grove Farms, Mrs. Dash, New York Style, Ortega,
Polaner, SnackWell’s, Spice Islands and Victoria, there’s a little
something for everyone. For more information about B&G Foods
and its brands, please visit www.bgfoods.com.
Forward-Looking Statements
Statements in this press release that are not statements of
historical or current fact constitute “forward-looking statements.”
The forward-looking statements contained in this press release
include, without limitation, statements related to the expected
impact of the acquisition, including statements as to supporting
the Farmwise brand and introducing new, innovative Green Giant
products. Such forward-looking statements involve known and unknown
risks, uncertainties and other unknown factors that could cause the
actual results of B&G Foods to be materially different from the
historical results or from any future results expressed or implied
by such forward-looking statements. In addition to statements that
explicitly describe such risks and uncertainties readers are urged
to consider statements labeled with the terms “believes,” “belief,”
“expects,” “projects,” “intends,” “anticipates” or “plans” to be
uncertain and forward-looking. Factors that may affect actual
results include, without limitation, whether and when the Company
will be able to realize the expected financial results and
accretive effect of the transaction, and how customers,
competitors, suppliers and employees will react to the acquisition.
The forward-looking statements contained herein are also subject
generally to other risks and uncertainties that are described from
time to time in B&G Foods’ filings with the Securities and
Exchange Commission, including under Item 1A, “Risk Factors” in the
Company’s Annual Report on Form 10-K for fiscal 2018 filed on
February 26, 2019 and in its subsequent reports on Forms 10-Q and
8-K. Investors are cautioned not to place undue reliance on any
such forward-looking statements, which speak only as of the date
they are made. B&G Foods undertakes no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20200219006034/en/
Investor Relations: ICR, Inc. Dara Dierks 866.211.8151
Media Relations: ICR, Inc. Matt Lindberg 203.682.8214
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