Credit Suisse: B&G Foods' spices acquisition was 'savvy'

摘要

Credit Suisse on Oct. 7 raised its 2017 earnings-per-share guidance for B&G Foods Inc. to $2.70, up from a previous estimate of $2.35 per share and compared with a forecast of $2.15 per share for 2016. The increase reflected what the ratings agency called a "highly accretive" acquisition of the spices business of ACH Food Companies."B&G has executed a savvy transaction with a motivated seller that increases its presence in one of the few on-trend categories in the packaged foods space and offers potential synergies with the core Mrs. Dash and Ortega brands," Robert Moskow, research analyst with Credit Suisse, wrote in the report.