New acquisition WILL BE immediately accretive in Q4
New York Style, the maker of Bagel Crisps, was brought to life in a small cheese shop when the owners decided to serve their gourmet cheese samples on toasted bagel slices. Old London was founded in 1932 as Devonsheer Melba Company. Eventually, Devonsheer Melba became part of the Old London brand name, which offers a larger array of Melba products.
B&G president and CEO David Wenner commented, "The addition of these brands marks our entry into the fast growing snack category. Consistent with our prior acquisitions, we expect this acquisition to be immediately accretive to our earnings per share and free cash flow."
B&G said it expects the acquisition to close during the fourth quarter of 2012, subject to the satisfaction of customary closing conditions.