B&G Foods to Purchase Ortega Brand From Nestle Prepared Foods
PARSIPPANY, N.J. -- Food manufacturer B&G Foods, Inc. today announced it has signed an agreement to purchase the Ortega brand from Nestle Prepared Foods Co., part of Nestle USA. One of the most popular Mexican food brands in the United States, the Ortega product line includes a full range of taco shells, sauces, seasoning, chilies, salsa and refried beans.
Financial terms of the transaction were not disclosed. The purchase, which is subject to customary closing conditions, is expected to be completed within 60 days.
"Ortega is an excellent match with B&G Foods' diversified portfolio of brands. Ortega is a high-quality product line with a strong market position that will fit seamlessly into our existing distribution channels," said David L. Wenner, CEO of B&G Foods. "We see opportunities to further strengthen the brand by applying our proven approach to marketing and selling shelf-stable brands to both existing and new customers."
Ortega's manufacturing operations are expected to remain at the current facility in Stoughton, Wis., which is included in the purchase. Excluded from the sale is a line of cheese products, dipping cups, and dispensing units sold into the foodservice and club channels that Nestle will retain and sell under the Ortega brand through a transitional license.
Financial terms of the transaction were not disclosed. The purchase, which is subject to customary closing conditions, is expected to be completed within 60 days.
"Ortega is an excellent match with B&G Foods' diversified portfolio of brands. Ortega is a high-quality product line with a strong market position that will fit seamlessly into our existing distribution channels," said David L. Wenner, CEO of B&G Foods. "We see opportunities to further strengthen the brand by applying our proven approach to marketing and selling shelf-stable brands to both existing and new customers."
Ortega's manufacturing operations are expected to remain at the current facility in Stoughton, Wis., which is included in the purchase. Excluded from the sale is a line of cheese products, dipping cups, and dispensing units sold into the foodservice and club channels that Nestle will retain and sell under the Ortega brand through a transitional license.