Shares of AdvancePierre Foods Holdings Inc (NYSE:APFH) increased 0.04% and closed at $27.89 after opening 27.91 with the overall traded volume of 255,921.00 shares. The company’s Market capitalization reached to $2.14 billion, $76.95 million outstanding shares. Its low price was $27.71 and highest price was $28.10. The Distance from 50 day Simple moving average was 8.04% and Distance from 200 day Simple moving average 9.99%.
AdvancePierre Foods Holdings Inc (APFH) announced it has completed the acquisition of Allied Specialty Foods, Inc. (“Allied”), a pioneering manufacturer of raw and cooked beef and chicken Philly steak products, from Steven Zoll, for $60 million in cash, subject to certain post-closing adjustments.
“We are pleased to add Allied’s synergistic product platform and unique capabilities to our existing portfolio and network,” said John Simons, President and CEO of AdvancePierre. “The Philly steak category is primed for growth, and this acquisition strengthens our position, brings us additional products and production capacity, and expands our geographic reach.”
Shares of B&G Foods, Inc. (NYSE:BGS) decreased -1.07% and closed at $48.17 after opening 48.36 with the overall traded volume of 268,036.00 shares. The company’s Market capitalization reached to $3.20 billion, $66.41 million outstanding shares. Its low price was $48.15 and highest price was $48.74. The Distance from 50 day Simple moving average was 0.57% and Distance from 200 day Simple moving average was 17.32%. The EPS is 1.57.
B&G Foods, Inc. (BGS) announced that it has entered into an agreement to acquire the spices and seasonings business of ACH Food Companies, Inc., a leading supplier of spices and seasonings to retail and food service customers, for approximately $365 million in cash, subject to a post-closing inventory adjustment. The ACH spices and seasonings business includes the Spice Islands, Tone’s and Durkee brands. The business also includes Weber brand sauces and seasonings, which are sold under license. As part of the acquisition, B&G Foods is also acquiring a manufacturing facility in Ankeny, Iowa. B&G Foods expects the acquisition to close during the fourth quarter of 2016, subject to customary closing conditions, including the receipt of regulatory approvals.