Yes, definitely speculating. But there's significant takeover activity in the space, and some big cap like Kraft, General Mills or Campbells Soup is gonna need the cash flows to fight raw costs. Again, my opinion. $22 then the sharks come in.
He's speculating. The CEO was on CNBC this morning and he said he expected BGS to be stand-alone for long time; they have such a wide range of niche products that the bigger companies have disposed of (to BGS) and have no interest in buying them back. Meanwhile, BGS being more agile can hedge costs better and forecast pricing and promotional actions a year ahead of time.