B&G Foods Inc. (NYSE: BGS) is buying Specialty Brands of America Inc. for $155 million.
Specialty brands is a packaged foods company that owns the Bear Creek Country Kitchens, Spring Tree, Cary's, MacDonald's, New York Flatbreads and Canelo brands. The group was sold by American Capital Ltd. (Nasdaq: ACAS), a private equity firm that has about $19 billion in assets.
Food group B&G has made several acquisitions in the past year. In October, the company bought granola bar maker Rickland Orchards LLC for $57.5 million. In June, the company bought Robert's American Gourmet Food LLC, which makes snack food Pirate's Booty. In May, the company bought TrueNorth brand candy, which makes snack nuts.
Evercore Group LLC was American Capital's financial adviser on the deal, which was announced April 3.
Food deals have been popular as consumers have changed their eatings habits. For more on the food industry, see "Snack Time."