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News Breaks
April 7, 2014
08:27 EDTBGSB&G Foods upgraded at RBC Capital
As noted earlier, RBC Capital upgraded B&G to Outperform from Sector Perform. As reasons for the upgrade, the firm cited higher EPS estimates for B&G due to an anticipated acquisition by the company, its belief that the company is moving beyond the integration issues related to its recently acquired snacks businesses, its best-in-class overhead, and accretive deals. Target to $36 from $31.
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November 14, 2014
13:30 EDTBGSB&G Foods issues recall, allergy alert on undeclared nuts in certain products
B&G Foods announced it is voluntarily recalling certain Ortega Taco Seasoning Mix, Ortega Taco Sauce, Ortega Enchilada Sauce and Ortega Taco Kit products and certain Las Palmas Taco Seasoning Mix and Las Palmas Taco Sauce products after learning that one or more of the spice ingredients purchased from a third party supplier contain peanuts and almonds, allergens that are not declared on the products’ ingredient statements. People who have an allergy or severe sensitivity to peanuts and almonds run the risk of serious or life-threatening allergic reaction if they consume these products. There is no health risk associated with these products for individuals without an allergy to peanuts or almonds. This recall was initiated in consultation with the FDA after it was discovered that ingredients from a single supplier used in the affected products were contaminated with peanut and almond allergens. B&G Foods has since terminated its relationship with this supplier and is receiving these ingredients from other sources in anticipation of resuming production shortly.
13:25 EDTBGSB&G Foods trading halted, pending news
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