B&G Foods wraps up $550m acquisition of Crisco shortening brand

B&G Foods has wrapped up its previously announced $550 million acquisition of the Crisco brand of oils and shortening from The J.M. Smucker Co. (Smucker’s).

As part of the deal announced in October 2020, the US-based branded foods company also acquired a manufacturing facility and warehouse located in Cincinnati, Ohio.

B&G Foods anticipates the transaction to be immediately accretive to its earnings per share and also free cash flow.

The branded foods company expects Crisco to register annual net sales of around $270 million.

B&G Foods stated: “Crisco is the original all‑vegetable shortening that transformed the way people bake and cook over 100 years ago. Crisco is the number one brand of shortening, the number one brand of vegetable oil and also holds a leadership position in other cooking oils and cooking sprays.”

B&G Foods acquires Crisco shortening brand from Smucker’s for $550m. Photo courtesy of Science History Institute/Wikipedia.org.