Back to Nature Brand Sold to Barilla Group
B&G Foods, Inc. has completed the sale of the Back to Nature brand to BA Brussels, LLC, a subsidiary of Barilla America, Inc.
B&G Foods intends to use the proceeds from the sale for general corporate purposes, including the repayment of long-term debt and the purchase of assets useful in B&G Foods’ business, and to pay taxes, fees and expenses related to the sale.
Back to Nature features a portfolio of plant-based, non-GMO products that compete in the United States cookies, crackers, granola and nuts & trail mix categories. Founded in 1960, the brand is mainly distributed in the U.S. natural and specialty channels and is committed to providing people with good food made with nature-inspired recipes.
Barilla, a fourth-generation family-owned company founded in 1877 is an international food company, leading in pasta and bakery products, and present in more than 100 countries. It has a strong bond with the United States, where it has operated since 1996, and is currently the #1 pasta brand. The acquisition of Back to Nature is consistent with Barilla’s long-term strategy to build a strong multi-brand bakery platform in the United States, where the Group is already market leader in the crispbread category with the Wasa brand.
Barilla is a leader in the European bakery products sector and has expertise in, and a reputation for, healthy, good-for-you snacking products. The acquisition of Back to Nature provides Barilla with a strong platform from which to build and grow in the dynamic North American bakery marketplace.
“At Barilla, we aspire to build a long-term and significant presence in the U.S. baking industry and this operation reminds me of when we first started our journey with pasta over 25 years ago and we are now the market leader. The acquisition of Back to Nature is a key step for this exciting journey”, said Guido Barilla, chairman of the Barilla Group. “We focus all our business activities and products on health and indulgence and hence Back to Nature was a natural choice. We are excited to see how our efforts will evolve in the future”.
Barilla confirms its commitment to ensure people have access to good, sustainable food with consistent improvements in its nutritional profile. The Italian based family company, founded 145 years ago, brings together 8,700 people around the world, and a supply chain that shares its values and passion for quality.
Barilla is a family business chaired by the brothers Guido, Luca and Paolo Barilla. It was founded by their great-grandfather Pietro Barilla, who opened a bakery in Parma in 1877. Barilla is renowned in Italy and around the world for the excellence of its food products. With its brands – Barilla, Mulino Bianco, Pan di Stelle, Gran Cereale, Harrys, Pavesi, Wasa, Filiz, Yemina and Vesta, Misko, Voiello, Academia Barilla, First, Catelli, Lancia, Splendor, Tolerant and Pasta Evangelists – it advocates tasty, hearty and wholesome nutrition, inspired by the Mediterranean Diet and the Italian lifestyle.
Based in Parsippany, N.J., B&G Foods and its subsidiaries manufacture, sell and distribute high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. B&G Foods’ portfolio of more than 50 brands includes B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Green Giant, Las Palmas, Le Sueur, Mama Mary’s, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands and Victoria.
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Blue Diamond Growers Participates in Rose Parade
Blue Diamond Growers, the world’s leading almond marketer and processor, is participating in the 2023 Rose Parade presented by Honda, an iconic annual event held in Pasadena, Calif., on Jan 2. For the fifth year in a row, the Sacramento-based co-op will honor the people and pollinators that make Blue Diamond almond products possible, highlighting the farmer-owned cooperative’s commitment to sustainability, pollinators, and biodiversity with a custom-built float brimming with fresh flowers and featuring Blue Diamond almond growers.
Meticulously built to honor the almond pioneer’s past, present, and future, Blue Diamond will charm Rose Parade spectators with a colorful float that pays tribute to not only the almonds that sustain its growers and nourish its consumers but also to the pollinators that are vital for their success.
“We’re thrilled to be back for the Rose Parade! This year’s float is an unparalleled representation of the passion and hard work of our Grower members,” said Raj Joshi, SVP global consumer division for Blue Diamond Growers. “We are incredibly honored to share this moment with the almond grower-owners riding our float, bringing the whole display to life, and our thousands of members who will be watching from home. Blue Diamond’s California legacy keeps growing thanks to them.”
Spectators will be charmed with the enormous representations of the brand’s Almond Breeze Almondmilk and the signature Smokehouse-flavored Blue Diamond Almonds, a rollercoaster and an animated, spinning Ferris wheel. As the float makes its way down the streets of Pasadena, Blue Diamond has been intentional in ensuring that one element stands out: the honeybees. By creating joyful bees from thousands of flowers, the Sacramento-based co-op reinforces its commitment to partnerships that support honeybee health, such as Project Apis m. and Pollinator Partnership, and its leadership in using pollinator-friendly plantings in growers’ orchards to advance biodiversity and climate-smart agriculture.
This year’s eye-catching design will consist of more than 20,000 flowers, including over 10,000 pink and orange roses, hundreds of gladiolas, lilies, and orchids as well as a variety of seeds, beans, and almond shells. The float will also feature a unique component: the heart and soul of Blue Diamond, its growers. Twelve almond growers will ride alongside the float, representing the more than 3,000 dedicated growers in the California co-op – making it one of the world’s leading agricultural co-ops.
Lovingly known as America’s New Year Celebration, the iconic Rose Parade is celebrating its 134th anniversary. With this year’s theme, “Turning the Corner,” Blue Diamond also takes an opportunity to celebrate what the new year means to them: the long-awaited almond bloom that happens every February in central California, signaling a new year for the almond cycle, and a renewed opportunity to keep growing a better tomorrow through innovative sustainable farming practices.
Nothing denotes turning the corner more for Blue Diamond than fragrant almond blossoms, well-cared-for crops, and healthy bees pollinating the trees that make almonds possible. Visit bluediamondgrowers.com/sustainability to learn how Blue Diamond is committed to biodiversity and pollinator health.
You can watch the Blue Diamond Growers float in the Rose Parade on Jan. 2, starting at 8 a.m. PST in Pasadena or broadcast on live television.
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Butterfly to Acquire Milk Specialties Global
Credit: Milk Specialties Global
Butterfly, a Los Angeles-based private equity firm specializing in the food sector, has entered into a definitive agreement to acquire Milk Specialties Global, a leader in human and animal nutrition, from affiliates of American Securities LLC.
Founded in 1949 and based in Eden Prairie, Minn., Milk Specialties is an industry-leading, vertically integrated ingredient manufacturer focused on the processing of raw dairy inputs, such as milk and liquid whey, into value-added functional ingredients for a variety of growing nutrition end markets.
The company’s Human Nutrition segment is a leading performance nutrition manufacturer that produces high-quality dairy protein ingredients and products designed to optimize health and nutrition. Today, Milk Specialties’ Human Nutrition segment is the largest producer of whey protein isolate in the world. The company’s Animal Nutrition segment is a leading provider of science-based animal nutrition products for the dairy industry.
Milk Specialties operates 12 state-of-the-art facilities strategically positioned across the United States that allow the company to deliver high-quality, specialized ingredients and exceptional service to customers around the globe. It has been led for over 14 years by CEO and industry veteran David Lenzmeier, who will continue to lead the business going forward.
Milk Specialties is Butterfly’s latest investment within its “seed to fork” strategy spanning agriculture and aquaculture, food and beverage products, food distribution, and foodservice. Butterfly brings specialized expertise in performance nutrition as a result of its 2019 majority investment in Orgain, one of the fastest-growing consumer brands in the nutrition industry. In 2022, Butterfly sold a majority stake in Orgain to Nestlé Health Science and continues to own a minority stake.
“We are beyond excited to roll up our sleeves and get to work with the Butterfly team. Partnering with a food-focused firm like Butterfly, we can drive enhanced value creation for all partners. We are really looking forward to what the future holds because Butterfly will enable Milk Specialties to achieve a new level of growth,” said Lenzmeier.
“We’ve admired Dave and team from afar for many years and are excited to welcome them to the Butterfly family,” said Butterfly founders and CEOs Adam Waglay and Dustin Beck. “We’re confident that Milk Specialties’ industry leadership and best-in-class team, combined with our expertise in the space, will enable us to drive even greater success for the business going forward. We can’t wait to see what we can accomplish together.”
“The Milk Specialties team has continually pushed the envelope of quality, service and innovation in the protein space, and we’re thrilled to join them in making high-quality, affordable nutrition products available to even more consumers,” added Butterfly Managing Director Aaron Kirkbride.
Terms of the transaction were not disclosed. The transaction is expected to close in Q1 2023. Butterfly was advised by Kirkland & Ellis LLP on legal matters in connection with the transaction. Goldman Sachs & Co. LLC, Credit Suisse Securities (USA) LLC, and Rabo Securities USA, Inc. acted as financial advisors to Milk Specialties and Arnold & Porter Kaye Scholer LLP served as legal counsel.
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