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B&G Foods Inc. (BGS) Is Up Sharply After Acquisition Of Pirate Brands

B&G Foods Inc. (BGS) announced Monday morning that it has entered into an agreement to acquire Robert's American Gourmet Food LLC dba Pirate Brands from VMG Partners, Driven Capital Management, founder Robert Ehrlich and certain other entities and individuals, for approximately $195 million in cash.

B&G Foods has been rising since the open and is currently higher by 1.41 at $30.59. The stock has climbed to over a 2 1/2 week high and has re-crossed its 50 and 200-day moving averages.

by RTT Staff Writer

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