Parsippany-based B&G Foods Inc. announced that it has agreed to purchase SnackWell’s cookies and Back to Nature granola bars for $162.5 million.
B&G Foods said it is buying Back to Nature Foods Company LLC, a healthy snack foods company, from a joint venture between Brynwood Partners VI L.P., Mondelez International and other entities and individuals.
B&G Foods expects the acquisition to close in the third quarter of 2017.
“We are very pleased to add Back to Nature to the B&G Foods family of brands. Consistent with our acquisition strategy and our recent Green Giant, spices & seasonings and Victoria acquisitions, we are continuing to diversify our portfolio of brands and invest in brands and products that we believe are most relevant to today’s consumer,” stated Robert C. Cantwell, CEO and president of B&G Foods.
B&G said it expects the acquired business to general on an annualized basis net sales of approximately $80 million.