B&G Foods Acquires Rickland Orchards

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B&G Foods has acquired Greek yogurt distributor Rickland Orchards from Natural Instincts. The company paid $57.5 million for Rickland Orchards, and the acquisition marks B&G's fourth acquisition since October 2012.

Rickland Orchards CEO and founder Jason Cohen and Chief Operating Officer Michael Sands will join B&G Foods following the merger. Cohen will assume the role of executive vice president of Club Channel, where he will oversee sales for the entire portfolio of B&G's brands into the club channel. Sands, meanwhile, will act as B&G's vice president of product innovation.

In a statement, Cohen said he believed his and Sands' "experience in the club channel and in developing on trend, innovative products combined with B&G Foods' seasoned management team, sales force and impressive portfolio of brands will result in continued growth for Rickland Orchards and incremental sales for B&G Foods' existing brands."

Since the start of 2013, B&G Foods has seen its price per share rise from $28.31 to $34.91, a 23% increase. The company has also experienced a 30% increase in annual revenue since 2008, bringing in $634 million last year.


The article B&G Foods Acquires Rickland Orchards originally appeared on Fool.com.

Fool contributor Caroline Bennett has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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