B&G Foods Inc. has acquired a prominent maker of baking products such as baking powder and baking soda, it announced Wednesday.
The Parsippany-based food company said its deal for Clabber Girl Corp., maker of its namesake No. 1 retail baking powder brand, was paid for with cash and existing credit. Financial terms were not disclosed.
“We are pleased to announce the addition of Clabber Girl to our portfolio of brands,” Kenneth G. Romanzi, CEO and president of B&G, said in a prepared statement. “This acquisition is consistent with our longstanding acquisition strategy of targeting well-established brands with defensible market positions and strong cash flow, at reasonable purchase price multiples.”
Terre Haute, Indiana-based Clabber Girl also makes Rumford, Davis, Hearth Club and Royal retail brands of baking powder, baking soda and corn starch, as well as the Royal brand of food-service dessert mixes.
