Dechert advised B&G Foods on the deal.
B&G Foods, Inc. signed the agreement to acquire the Crisco® brand of oils and shortening from The J.M. Smucker Co., for approximately $550 million in cash, subject to a post-closing inventory adjustment. As part of the acquisition, B&G Foods is also acquiring a manufacturing facility and warehouse in Cincinnati, Ohio. The deal is expected to close during the fourth quarter of 2020, subject to customary closing conditions, including the receipt of regulatory approvals.
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.
The Dechert team advising B&G Foods included corporate partner Stephen Leitzell (Picture), and associates Michael Gordon, Juan Zambon, Tiffany Pan and Kristen Thompson; finance partner Sarah Gelb; real estate special counsel Francois Quintard-Morenas; environmental special counsel John Ix; labor counsel Ian Downes; employee benefits partner David Jones and associate Lany Villalobos; and tax partner Edward Lemanowicz and associate George Davis.
Involved fees earner: George Davis – Dechert; Ian Downes – Dechert; Sarah Gelb – Dechert; Michael Gordon – Dechert; John Ix – Dechert; David Jones – Dechert; Stephen Leitzell – Dechert; Edward Lemanowicz – Dechert; Tiffany Pan – Dechert; Francois Quintard-Morenas – Dechert; Kristen Thompson – Dechert; Lany Villalobos – Dechert; Juan Bautista Zambon – Dechert;
Law Firms: Dechert;
Clients: B&G Foods Inc.;