For Immediate Release – Press Release
Hulman & Company announced today the sale of Clabber Girl Corporation to B&G Foods, Inc.
(Terre Haute, IN) – Hulman & Company announced today the sale of Clabber Girl Corporation to B&G Foods, Inc. (NYSE: BGS), a leading manufacturer, seller and distributor of shelf-stable and frozen foods across North America.
“Our core focus is the pursuit of world-class motorsports competition and entertainment,” Hulman & Company President & CEO Mark Miles said. “This decision positions us to fully focus on the continued direction and growth of INDYCAR, the Indianapolis Motor Speedway and IMS Productions. It also provides Clabber Girl with a well-prepared owner ready to use its vast expertise and considerable resources to accelerate the growth of the newest member of its impressive portfolio.”
“The Hulman-George family takes great pride in the Clabber Girl brand’s success, history and critical role in the development and rich cultural fabric of Terre Haute,” Hulman & Company Chairman of the Board Anton Hulman “Tony” George said. “Clabber Girl will always be a cherished and celebrated part of our legacy, and we’re excited we’ve found a strong steward for its very bright future.”
Like Clabber Girl, B&G Foods has spent more than a century in the food business. The company maintains more than 50 brands and 2,500 employees across North America. This includes Ortega, Green Giant, Cream of Wheat, Mrs. Dash, Back to Nature and many others.
“We are excited to join the B&G Foods family as we add our iconic Clabber Girl brand to its impressive portfolio of brands consumers both recognize and trust,” Clabber Girl President and COO Gary Morris said. “Clabber Girl will benefit from the knowledge and reach B&G Foods will provide as a seasoned food manufacturer and distributor. Together, we will continue to grow this historic business.”
Guggenheim Securities, LLC acted as Hulman & Company’s financial advisor for this transaction.
About Hulman & Company
Hulman & Company is committed to worldwide leadership in motorsports competition and entertainment through its three entities, the Indianapolis Motor Speedway (IMS), INDYCAR and IMS Productions. IMS is the world’s largest spectator sporting facility and the most famous racetrack on Earth. INDYCAR is the Indianapolis-based sanctioning body for the fastest and most competitive open-wheel racing series, the NTT IndyCar Series. IMS Productions is a leading provider of motorsports and sporting entertainment experience solutions.
About B&G Foods, Inc.
Based in Parsippany, New Jersey, 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. With B&G Foods’ diverse portfolio of more than 50 brands you know and love, including Back to Nature, B&G, B&M, Cream of Wheat, Green Giant, Las Palmas, Le Sueur, Mama Mary’s, Maple Grove Farms, Mrs. Dash, New York Style, Ortega, Polaner, SnackWell’s, Spice Islands and Victoria, there’s a little something for everyone. For more information about B&G Foods and its brands, please visit www.bgfoods.com.
