Parsippany-based B&G Foods has acquired the McCann’s Irish Oatmeal brand for $32 million in cash, it announced recently.
The deal with Illinois-based TreeHouse Foods Inc. will see B&G add McCann’s steel-cut oatmeal products to its line including the Cream of Wheat brand.
“We are delighted to welcome the McCann’s brand to the B&G Foods family,” B&G CEO and President Robert C. Cantwell said in a prepared statement. “McCann’s is an excellent complement to our existing portfolio of brands, including our Cream of Wheat hot cereal brand. This acquisition is another example, along with our acquisitions of Green Giant, Spice Islands and other spices and seasoning brands, Victoria and Back to Nature, of our efforts in recent years to acquire better-for-you brands that taste great and resonate with today’s consumer.”
The transaction is subject to customary approvals and conditions. B&G did not announce an estimated closing date.
