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B+G Foods Completes Sale of Pirate Brands

Parsippany / NJ. (bgs) B+G Foods Inc. announced that effective immediately it has completed the sale of its Pirate Brands business, including the Pirate’s Booty, Smart Puffs and Original Tings brands, to Amplify Snack Brands Inc., a subsidiary of The Hershey Company, for approximately USD 420.0 million in cash, subject to customary closing and post-closing adjustments. B+G Foods intends to use the proceeds from the sale together with additional borrowings under its revolving credit facility to repay the entire USD 500.1 million principal amount of tranche B term loans outstanding under its credit facility and to pay taxes, fees and expenses related to the sale.