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B&G Foods Inc. (BGS) Climbed Sharply After Acquisition

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 rose steadily until around mid-morning Monday and finished with a gain of 1.99 at $31.17. The stock climbed to nearly a 3-week high and re-crossed both its 50 and 200-day moving averages.

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