B+G Foods: to sell cookie brand to Barilla America

Parsippany / NJ. (bgs) B+G Foods Inc. announced that it has entered into an agreement to sell the «Back to Nature» brand to Barilla America. The products represent a wide range of categories, including cookies, crackers, nuts and trail mixes and granola. «Our decision to sell Back to Nature is part of a broader effort at B+G Foods to focus our portfolio on businesses that are core to our long-term strategy as we transition to a business unit structure,» said Casey Keller, President and Chief Executive Officer of B+G Foods. «The divestiture will also allow us to reduce long-term debt, while providing Barilla America with a great brand.» B+G Foods expects the sale to close in the first quarter of 2023, subject to the satisfaction of customary closing conditions. B+G Foods intends to use the net proceeds from the sale for the repayment of long-term debt.

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