B&G Foods to acquire College Inn and Kitchen Basics of Del Monte Foods for $110m.

B&G Foods, a company specializing in high-quality food brands, agreed to acquire College Inn and Kitchen Basics of Del Monte Foods, a provider of high-quality fruits and vegetables, for $110m. “We are very excited to be the winning bidder for Del Monte’s broth and stock business and to add the College Inn and Kitchen Basics brands to the B&G Foods portfolio. The College Inn and Kitchen Basics brands complement our existing portfolio of brands. College Inn and Kitchen Basics are pantry staples for consumers seeking to prepare high-quality, innovative and versatile meals at home. This acquisition is consistent with our longstanding acquisition strategy of targeting well-established brands with defensible market positions and strong cash flow at reasonable purchase price multiples,” Casey Keller, B&G Foods President and Chief Executive Officer.