Steady strategic acquirer B&G Foods (NYSE: BGS) sold 4.6 million shares in a public stock offering, giving the company $152 million to repay debt outstanding. The proceeds from the sale also provide B&G with more cash on hand to pursue additional targets in the sector, the company says.

“B&G Foods intends to use the proceeds from the offering to repay outstanding borrowings under its revolving credit facility and for general corporate purposes, which could include, among other things, repayment of other long-term debt or possible acquisitions,” says B&G.

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