Parsippany, NJ — B&G Foods Inc. has acquired Greek yogurt-covered granola bar and bites manufacturer Rickland Orchards, LLC for $57.5 million from Natural Instincts, LLC.
The purchase is one of many in the past year — in October 2012 B&G bought the New York Style, Devonsheer, JJ Flats and Old London brands from Chipita America, Inc., acquired TrueNorth nut cluster brand from DeMet’s Candy Co. in May and in July it purchased Pirate Brands from VMG Partners, LLC.
B&G Foods President and CEO David Wenner says: “The Rickland Orchards brand, which was launched in March 2012, has already achieved annualized net sales exceeding $50 million, with a strong presence across the club, retail, mass and convenience channels.”
Founder and CEO of Rickland Orchards Jason Cohen is joining B&G Foods as executive vice-president of the club channel and Rickland Orchards COO Michael Sands will become vice-president of product innovation.
Wenner said earlier this year B&G was actively seeking brands to add to its portfolio. Its acquisitions throughout the past year are expected to generate about $100 million in sales.