B&G Foods Inc. (NYSE: BGS) has acquired private equity-backed pizza crust brand Mama Mary's for $50 million.
Spartan Foods of America Inc., which does business as Mama Mary's, makes shelf-stable pizza crust. The brand has been backed by Mayfield Heights, Ohio-based private equity firm Linsalata Capital Partners since 2009.
B&G says the brand works well with its existing products, including Don Pepino pizza sauce. The buyer also says it expects Mama Mary's to bring in $35 million in sales, and adjusted Ebitda of $7.5 million annually.
B&G, headquartered in Parsippany, New Jersey, manufactures, sells and distributes shelf-stable foods. The company's brands include Bear Creek Country Kitchens, Spring Tree, Cary's, MacDonald's, New York Flatbreads and Canelo, which it picked up in 2014. Before that, B&G added Rickland Orchards in a $57.5 million deal. B&G's acquisitions have trended towards better-for-you brands, as a shift in consumer preferences affects dealmaker activity. For more, see Snack Time.
Duff & Phelps was Linsalata Capital's adviser.