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News Article | April 21, 2017
Site: www.businesswire.com

DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Brazil Market Report for Dental Bone Graft Substitutes 2017 - MedCore" report to their offering. Though autografts represent a prospective bone graft material option, monetizing their worth is complicated as autograft materials are not purchased. Instead, the autograft market is evaluated separately from the various alternatives that have a price attached to their worth. The xenograft market is dominated by a number of local companies, providing less expensive products than those offered by international brands such as Geistlich. As the economy continues to recover, the dental BGS market growth will increase as a greater number of patients who had previously postponed dental treatments receive the procedure. Dental bone grafting procedures are typically associated with dental implants to restore the edentulous area of a missing tooth. Dental implants require sufficient bone tissue in the jawbone to support the implant and ensure proper integration into the mouth. If a patient has endured being toothless (edentulism) for a prolonged period, they run a high probability of having insufficient bone tissue. In this case, they ideally required a bone graft in order to maximize the outcome of a dental implant surgery. The bone grafting market is segmented on the basis of the material's origins. Dental bone graft procedures include autografts, allografts, xenografts and synthetics. For more information about this report visit http://www.researchandmarkets.com/research/c9s4xs/brazil_market


News Article | April 17, 2017
Site: www.businesswire.com

PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE:BGS) announced today that it has scheduled a conference call to discuss the Company’s first quarter 2017 financial results on Thursday, May 4, 2017 at 4:30 p.m. ET. Hosting the call will be Robert C. Cantwell, Chief Executive Officer and Amy J. Chiovari, Interim Chief Financial Officer. The call will be webcast live from B&G Foods’ website at www.bgfoods.com under “Investor Relations—Company Overview.” The call can also be accessed live over the phone by dialing (877) 440-5804 for U.S. callers or (719) 325-4804 for international callers. A replay of the call will be available two hours after the call and can be accessed by dialing (844) 512-2921 or (412) 317-6671 for international callers; the password is 3906951. The replay will be available from May 4, 2017 through May 18, 2017. Investors may also access a web-based replay of the call at the Investor Relations section of B&G Foods’ website, www.bgfoods.com. The Company intends to issue a press release with the first quarter 2017 financial results via Business Wire after the market close on Thursday, May 4, 2017. B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Durkee, Emeril’s, Grandma’s Molasses, Green Giant, JJ Flats, Joan of Arc, Las Palmas, Le Sueur, MacDonald’s, Mama Mary’s, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Flatbreads, New York Style, Old London, Original Tings, Ortega, Pirate’s Booty, Polaner, Red Devil, Regina, Sa-són, Sclafani, Smart Puffs, Spice Islands, Spring Tree, Sugar Twin, Tone’s, Trappey’s, TrueNorth, Underwood, Vermont Maid, Victoria, Weber and Wright’s. B&G Foods also sells and distributes Static Guard, a household product brand.


DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Argentina Market Report for Dental Bone Graft Substitutes 2017 - MedCore" report to their offering. Though autografts represent a prospective bone graft material option, monetizing their worth is complicated as autograft materials are not purchased. Instead, the autograft market is evaluated separately from the various alternatives that have a price attached to their worth. The xenograft market is dominated by a number of local companies, providing inexpensive products than those offered by international brands such as Geistlich. With inexpensive options available in a cost-sensitive country, the xenograft market is set to continuing growing over the forecast period. The total market is expected to grow primarily driven by the increasing number of dental implant treatments and an increasing acceptance of bone grafting. The growth of the dental bone grafting market is very closely linked to the growth of the dental implant industry. As the economy continues to recover, the dental BGS market growth will increase as a greater number of patients who had previously postponed dental treatments receive the procedure. Dental bone grafting procedures are typically associated with dental implants to restore the edentulous area of a missing tooth. Dental implants require sufficient bone tissue in the jawbone to support the implant and ensure proper integration into the mouth. If a patient has endured being toothless (edentulism) for a prolonged period, they run a high probability of having insufficient bone tissue. In this case, they ideally required a bone graft in order to maximize the outcome of a dental implant surgery. The bone grafting market is segmented on the basis of the material's origins. Dental bone graft procedures include autografts, allografts, xenografts and synthetics. For more information about this report visit http://www.researchandmarkets.com/research/2g3kqf/argentina_market


News Article | May 23, 2017
Site: www.businesswire.com

PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE:BGS) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.465 per share of common stock. The dividend is payable on July 31, 2017 to shareholders of record as of June 30, 2017. At the closing market price of the common stock on May 23, 2017, the current dividend rate represents an annualized yield of 4.6%. This is the 51st consecutive quarterly dividend declared by the Board of Directors since B&G Foods’ initial public offering in October 2004. B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Durkee, Emeril’s, Grandma’s Molasses, Green Giant, JJ Flats, Joan of Arc, Las Palmas, Le Sueur, MacDonald’s, Mama Mary’s, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Flatbreads, New York Style, Old London, Original Tings, Ortega, Pirate’s Booty, Polaner, Red Devil, Regina, Sa-són, Sclafani, Smart Puffs, Spice Islands, Spring Tree, Sugar Twin, Tone’s, Trappey’s, TrueNorth, Underwood, Vermont Maid, Victoria, Weber and Wright’s. B&G Foods also sells and distributes Static Guard, a household product brand.


Feltham, the UK headquartered Nomad Foods Ltd's stock finished Wednesday's session 0.30% lower at $13.17 with a total trading volume of 821,349 shares. The Company's shares have advanced 15.32% in the past month, 21.27% over the previous three months, and 37.62% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 13.26% and 19.78%, respectively. Furthermore, shares of Nomad Foods, which manufactures and distributes frozen foods primarily in the UK, Italy, Germany, Sweden, France and Norway, have a Relative Strength Index (RSI) of 76.37. On May 18th, 2017, Nomad Foods announced that Paul Kenyon, CFO, will be presenting at the RBC Capital Markets Consumer and Retail Conference on May 31st, 2017, at 1:20 p.m. ET. An audio webcast and slides from the presentation will be made available on the Company's website. Visit us today and access our complete research report on NOMD at: Shares in Oak Brook, Illinois-based Treehouse Foods Inc. ended at $77.82, up 0.44% from the last trading session. The stock recorded a trading volume of 156,476 shares. The Company's shares have gained 7.80% on an YTD basis. The stock is trading 5.04% below its 200-day moving average. Moreover, shares of Treehouse Foods, which operates as a food and beverage manufacturer in the US and Canada, have an RSI of 38.85. On May 05th, 2017, research firm Wells Fargo downgraded the Company's stock rating from 'Outperform' to 'Market Perform'. On May 22nd, 2017, Treehouse Foods announced that it has completed the sale transaction of its Soup and Infant Feeding ("SIF") business to Riverbend Foods LLC, a newly formed portfolio company of Insight Equity, a private equity firm. The SIF business is based in Pittsburgh, PA, and is a leading manufacturer of private-label, condensed, and ready-to-serve soup, baby food, and gravy packaged in cans, glass jars, and Tetra Recart® formats. The complimentary report on THS can be downloaded at: Parsippany, New Jersey headquartered B&G Foods Inc.'s stock ended yesterday's session 1.12% higher at $40.55 with a total trading volume of 554,837 shares. The Company's shares are trading 0.23% below their 50-day moving average. Shares of the Company, which manufactures, sells, and distributes a portfolio of shelf-stable, and frozen food and household products in the US, Canada, and Puerto Rico, have an RSI of 49.73. On May 18th, 2017, research firm Credit Suisse downgraded the Company's stock rating from 'Outperform' to 'Neutral'. On May 23rd, 2017, B&G Foods announced that its Board of Directors has declared a regular quarterly cash dividend of $0.465 per share of common stock. The dividend is payable on July 31st, 2017, to shareholders of record as of June 30th, 2017. At the closing market price of the common stock on May 23rd, 2017, the current dividend rate represents an annualized yield of 4.6%. Register for free on Stock-Callers.com and access the latest research report on BGS at: On Wednesday, shares in Sparks, Maryland-based McCormick & Co. Inc. recorded a trading volume of 347,945 shares. The stock finished 0.96% higher at $103.51. The Company's shares have advanced 2.81% in the last one month, 4.65% in the previous three months, and 10.91% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 3.32% and 6.86%, respectively. Furthermore, shares of McCormick, which manufactures, markets, and distributes spices, seasoning mixes, condiments, and other flavorful products to the food industry, have an RSI of 67.27. On May 03rd, 2017, McCormick announced that it was recognized among the 2017 Top 50 Companies for Diversity. This award is the result of a highly competitive survey conducted by DiversityInc, which highlights successes and best practices that promote the growth and advancement of underrepresented groups in the workplace. McCormick placed 45th in the list of global companies at DiversityInc's awards ceremony in New York City on May 02nd, 2017. Get free access to your research report on MKC at: Stock Callers (SC) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. SC has two distinct and independent departments. 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DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Bone Graft and Substitute Market Insights, Opportunity, Analysis, Market Shares And Forecast 2017 - 2023" report to their offering. The global bone graft and substitutes market is anticipated to grow at a CAGR of 4.7% during 2016 to 2023. Bones have the usual capability to rebuild, but the surgical intervention is required to regenerate the bone if the defects exceed a critical size. The healing of fractures is a physiological process that fallouts in bone union. It is estimated that 5 to 10% of all fractures are related with reduced healing. Hereafter, currently, numerous bone grafts and substitutes are offered to redevelop the bone. According to the American Academy of Orthopaedic Surgeons, the ideal BGS (bone graft substitute) is easy to use, biocompatible, osteoconductive, osteoinductive, looks like bone, and are cost effective. The major factors which are driving the bone graft and substitute market are rising incidences of musculoskeletal conditions due to sudden exertion and repetitive strain, increasing base of elderly population, development of biocompatible synthetic bone grafts which is used for sinus lift procedure. The major restraints of the bone grafts and substitutes market are high cost of surgeries, and the stringent regulatory approval process. The global bone grafts and substitutes market is segmented into its type and application. The type segment of bone grafts and substitutes market is sub segmented into allografts, bone graft substitutes. The application segment of the bone grafts and substitutes market is further divided into spinal fusion, long bone, foot and ankle, craniomaxilofacial, joint reconstruction, dental. Constant efforts to develop enhanced allografts for example demineralized bone matrix grafts with greater osteoinductive and osteoconductive abilities are expected to have a constructive impact on the development of the market during the forecast period. For more information about this report visit http://www.researchandmarkets.com/research/23fxhf/global_bone_graft


News Article | May 11, 2017
Site: www.prnewswire.com

The growth in membership coincides with the introduction of traditional "tapping" ceremonies when eligible students are "tapped" or invited to join Beta Gamma Sigma. The ceremonies are carried out by Martin Markowitz, senior associate dean of Rutgers Business School-New Brunswick and Helen Pensavalle and Michelle Tomitz of the undergraduate student services staff. "Becoming the Beta Gamma Sigma Gold Chapter brings recognition to our students and our program excellence," Markowitz said. "The students in our chapter not only demonstrate superior academic skills but also exhibit enthusiasm to help others." Beta Gamma Sigma is open to students whose academic performance puts them in the top 10 percent of their class. Membership in the honor society is considered the highest recognition business students anywhere in the world can receive for their academic achievements. "This is a huge accomplishment for the New Brunswick chapter," Pensavalle said. "It is a reflection of the hard work, devotion and determination put forth by the BGS student board members and all involved." "In the past few years, we find that students are working harder to make the top 10 percent so they can be invited to join. It's a win-win situation," she said. "Our students continue to amaze me. No matter how high you raise the bar, they don't give up, they just reach higher." The Gold Chapter Award reflects the strong membership at Rutgers Business School as well as the community service events performed by students in the chapter. Pensavalle said students perform two community service events a year. In 2016, the chapter held a fund-raiser on Rutgers Day to benefit The Make-a-Wish Foundation for children with life-threatening illnesses. "We have worked to create a scholarly identity among our members by providing ceremonial, community service, social, and school-wide support activities in which our BGS members could participate," Markowitz said. "We are very proud of our students' accomplishments." In addition to being recognized as the top chapter in the world by Beta Gamma Sigma, Rutgers Business School will receive a $1,500 scholarship to be awarded to one chapter member. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/beta-gamma-sigma-honor-society-at-rutgers-wins-gold-chapter-award-300456299.html


News Article | May 10, 2017
Site: www.businesswire.com

CINCINNATI--(BUSINESS WIRE)--Belcan, LLC today announced several new senior hires in its recently launched Belcan Government Services (BGS) group. They include Rodney Hite, Vice President, Growth and Strategy; Clint Green, Vice President, Technology and Innovation, and Bob Kwaja, Vice President, Finance. “We have assembled an impressive senior team right out of the gate, whose deep sector experience will be a great asset to our Government Services clients as we continue to increase our market presence,” said Lee Shabe, President of Belcan Government Services. “I look forward to working with Rodney, Clint, and Bob as we continue to build our government-focused professional services, engineering services, and managed services offerings.” Belcan’s newly formed Government Services segment was established to create a global portfolio of government IT and cyber security offerings, while providing a platform for exceptional customer service. Rodney Hite, Vice President, Growth and Strategy: As the Vice President, Growth and Strategy, Mr. Hite will be responsible for the creation and implementation of the overall growth strategy for professional services and managed service offerings to Federal Government organizations. For more than 20 years, Mr. Hite served as a US Army Special Forces operator with duties including operations management, military intelligence, and medical practitioner in areas such as Bosnia-Herzegovina, Afghanistan, and Iraq. Following his retirement from the military, Mr. Hite has held various positions in military-related private sector companies. Most recently, he was Vice President of Analytic Solutions for the United States Special Operations Command (USSOCOM). He previously was a Planning and Operations Manager on an irregular warfare support program in support of the Joint IED Defeat Organization (JIEDDO) in counter-terrorist missions. He also served as Vice President of Products, Services and Support for Saffron Technology, a complex analytics software organization, as well as Operations and Integration Manager at Data Tactics for the Tactical Cloud Integration Lab for the Army. Mr. Hite is a graduate of Liberty University as well as multiple military leadership courses. Clint Green, Vice President, Technology and Innovation: As Vice President, Technology and Innovation, Mr. Green will be responsible for providing the technical roadmap for BGS in support of Federal Government customers. Mr. Green has more than 20 years of experience in the technology industry, supporting companies ranging from OEMs to large services integrators (LSIs) to start-ups. He was most recently the director of Advanced Analytic Strategies and Development at ViON. He also previously was Vice President of Global Services at Koverse, a large data and analytics start-up; Vice President and Chief Technology Officer (CTO) at L-3 National Security Solutions, and CTO at Ascolta. Bob Kwaja, Vice President, Finance: As Vice President, Finance, Mr. Kwaja will be responsible for managing and overseeing all finance, contracts, pricing, procurement, and accounting functions, as well as M&A activities for BGS. Mr. Kwaja brings more than 10 years of investment banking, corporate finance, and operational experience in the Aerospace, Defense, and Government (ADG) sector. He previously held the position of Senior Corporate Financial Analyst at Schafer, where he was involved in several of the company’s acquisitions, divestitures, and refinancing activities. Additionally, Mr. Kwaja was Vice President at Bluestone Capital Partners, a boutique investment bank exclusively focused on ADG. Mr. Kwaja received a Bachelor of Science degree in finance from the Robert H. Smith School of Business, University of Maryland. Belcan is a global supplier of engineering, technical recruiting, and IT services to customers in the aerospace, defense, industrial, and government sectors. Belcan engineers better outcomes through adaptive and integrated services—from jet engines, airframe, and avionics to heavy vehicles, chemical processing, and cybersecurity. Belcan takes a partnering approach to provide customer-driven solutions that are flexible, scalable, and cost-effective. Belcan’s unique capabilities have led to continuous growth and success for nearly 60 years. For more information, please visit www.belcan.com


News Article | February 21, 2017
Site: www.businesswire.com

PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE:BGS) announced today that its Board of Directors has declared a regular quarterly cash dividend of $0.465 per share of common stock. The dividend is payable on May 1, 2017 to shareholders of record as of March 31, 2017. At the closing market price of the common stock on February 21, 2017, the current dividend rate represents an annualized yield of 3.9%. This is the 50th consecutive quarterly dividend declared by the Board of Directors since B&G Foods’ initial public offering in October 2004. B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Durkee, Emeril’s, Grandma’s Molasses, Green Giant, JJ Flats, Joan of Arc, Las Palmas, Le Sueur, MacDonald’s, Mama Mary’s, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Flatbreads, New York Style, Old London, Original Tings, Ortega, Pirate’s Booty, Polaner, Red Devil, Regina, Sa-són, Sclafani, Smart Puffs, Spice Islands, Spring Tree, Sugar Twin, Tone’s, Trappey’s, TrueNorth, Underwood, Vermont Maid, Victoria, Weber and Wright’s. B&G Foods also sells and distributes Static Guard, a household product brand.


News Article | February 23, 2017
Site: www.businesswire.com

PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE:BGS) today announced financial results for the fourth quarter and full year 2016. Highlights (vs. prior year quarter and prior full year where applicable): “In 2016, much of our year was focused on the Green Giant integration, including the relaunch of the iconic Green Giant brand with a new and exciting marketing campaign and the introduction of several new and innovative products that have been a hit with consumers. We also continued to execute a key tenet of our growth strategy by completing two acquisitions in the fourth quarter; the spices & seasonings business of ACH Food Companies and the Victoria brand. Our base business, however, was not immune to the top-line challenges affecting our industry,” stated Robert C. Cantwell, President and Chief Executive Officer of B&G Foods. * Please see “About Non-GAAP Financial Measures and Items Affecting Comparability” below for the definition of the non-GAAP financial measures “adjusted net income,” “adjusted diluted earnings per share,” “base business net sales,” “EBITDA” and “adjusted EBITDA,” as well as information concerning certain items affecting comparability and reconciliations of the non-GAAP terms to the most comparable GAAP financial measures. “In just over two years we have nearly doubled the size of the B&G Foods, and with rapid growth comes significant challenges but also significant opportunities. For 2017 our top priorities are to deliver superior customer service, stabilize our core portfolio of brands through strategic and tactical marketing support, continue to harness the power and positive momentum of the Green Giant brand to drive top-line growth, and successfully integrate our two most recent acquisitions. We have a significant amount of work ahead of us in 2017, but my confidence in our team and our ability to deliver results and achieve our goals is as strong as ever. I look forward to another successful year for B&G Foods and our stockholders.” Financial Results for the Fourth Quarter of 2016 Net sales increased $71.4 million, or 20.8%, to $413.7 million for the fourth quarter of 2016 from $342.3 million for the fourth quarter of 2015. An additional month of net sales of Green Giant, acquired on November 2, 2015, contributed $46.5 million to net sales for the quarter. In addition, net sales of the spices & seasonings business, acquired on November 21, 2016, and net sales of Victoria, acquired on December 2, 2016, contributed $28.2 million and $3.2 million, respectively, to the Company’s net sales for the quarter. Base business net sales for the fourth quarter of 2016 decreased $5.6 million, or 1.6%, to $335.7 million from $341.3 million for the fourth quarter of 2015. The $5.6 million decrease was attributable to a decrease in unit volume of $2.2 million, or 0.6%, and a decrease in net pricing of $3.6 million, or 1.1%, partially offset by the favorable impact of currency fluctuations on foreign sales of approximately $0.2 million, or 0.1%. A little more than half of the Company’s base business net sales decline during the fourth quarter was attributable to a challenging competitive environment for its syrup brands, which in the aggregate declined $3.1 million for the quarter. The decline was primarily attributable to pure maple syrup price deflation due to the strength of the U.S. dollar relative to the Canadian dollar, which has resulted in increased competition in the maple syrup category and contractually mandated price reductions with certain of the Company’s foodservice customers. Gross profit increased $18.3 million, or 20.7%, to $106.9 million for the fourth quarter of 2016 from $88.6 million for the fourth quarter of 2015. Gross profit expressed as a percentage of net sales decreased to 25.8% in the fourth quarter of 2016 from 25.9% in the fourth quarter of 2015, a decrease of 0.1 percentage points. Selling, general and administrative expenses increased $22.2 million, or 60.6%, to $58.8 million for the fourth quarter of 2016 from $36.6 million for the fourth quarter of 2015, primarily due to the Green Giant acquisition. The increase was attributable to increases in consumer marketing of $19.5 million, warehousing expenses of $4.1 million, acquisition-related expenses of $2.7 million, partially offset by decreases in general and administrative expenses of $3.6 million (primarily related to the timing of accruals for performance based compensation), and selling expenses of $0.5 million (which includes a $1.0 million decrease in salesperson compensation partially offset by a $0.5 million increase in brokerage expenses). Expressed as a percentage of net sales, selling, general and administrative expenses increased 3.5 percentage points to 14.2% for the fourth quarter of 2016 from 10.7% for the fourth quarter of 2015. Net interest expense increased $1.6 million, or 9.6%, to $18.9 million for the fourth quarter of 2016 from $17.3 million in the fourth quarter of 2015. The increase was primarily attributable to additional indebtedness outstanding during the fourth quarter of 2016 as compared to the fourth quarter of 2015 as a result of the Green Giant acquisition, the spices & seasonings acquisition and the Victoria acquisition. The Company’s reported net income under U.S. generally accepted accounting principles (GAAP) was $13.6 million, or $0.20 per diluted share, for the fourth quarter of 2016, as compared to reported net income of $11.0 million, or $0.19 per diluted share, for the fourth quarter of 2015. The Company’s adjusted net income for the fourth quarter of 2016, which excludes the after-tax impact of the amortization of acquisition-related inventory step-up and other acquisition-related expenses was $19.4 million, or $0.29 per adjusted diluted share. The Company’s adjusted net income for the fourth quarter of 2015, which excludes an acquisition-related adjustment to deferred taxes, the after-tax impact of the amortization of acquisition-related inventory step-up, other acquisition-related expenses and distribution restructuring expenses, was $25.0 million, or $0.43 per adjusted diluted share. For the fourth quarter of 2016, adjusted EBITDA (which excludes the impact of the amortization of acquisition-related inventory step-up and other acquisition-related expenses), decreased 7.4% to $62.4 million from $67.4 million for the fourth quarter of 2015. Net sales increased $424.9 million, or 44.0%, to $1,391.3 million for fiscal 2016 from $966.4 million for fiscal 2015. An additional ten months of net sales of Green Giant, acquired on November 2, 2015, and an additional almost six months of net sales of Mama Mary’s, acquired on July 10, 2015, contributed $397.6 million and $19.4 million, respectively, to net sales for fiscal 2016. In addition, net sales of the spices & seasonings business, acquired on November 21, 2016, and net sales of Victoria, acquired on December 2, 2016, contributed $28.2 million and $3.2 million, respectively, to the overall net sales increase. Base business net sales for fiscal 2016 decreased $20.0 million, or 2.1%, to $942.3 million from $962.3 million for fiscal 2015. The $20.0 million decrease was attributable to a decrease in unit volume of $13.5 million, or 1.4%, a decrease in net pricing of $6.0 million, or 0.6%, and the negative impact of currency fluctuations on foreign sales of approximately $0.5 million, or 0.1%. A primary driver of the decline in base business net sales for fiscal 2016 was the Company’s syrup business. The Company’s syrup brands have been experiencing a challenging competitive environment and the net sales of those brands declined in the aggregate $7.7 million for the year. The decline was primarily attributable to maple syrup price deflation due to the strength of the U.S. dollar relative to the Canadian dollar, which has resulted in increased competition in the maple syrup category and contractually mandated price reductions with certain of the Company’s foodservice customers. Another significant factor in the decline in base business net sales for fiscal 2016 was the TrueNorth brand, which declined $6.4 million, or 33.9%. The TrueNorth net sales decline was primarily the result of historically high almond prices in 2015. In response to increased almond costs, the Company increased the selling price for TrueNorth products, which had a negative impact on consumer demand. Although the Company has rolled back pricing as almond prices have begun to return to historical norms, consumer demand has not returned to prior levels. Base business net sales were also negatively impacted by net sales of the Company’s Ortega products, which decreased $3.7 million, or 2.6%. A portion of the decrease was attributable to the effects of the product recall we announced in November 2014, which caused an increase in net sales of Ortega in fiscal 2015 due to customers restocking inventory of products affected by the recall, partially offset by $1.2 million of customer refunds related to the recall. $1.5 million of the decrease in net sales of Ortega was due to a net pricing decrease in fiscal 2016. Gross profit increased $158.4 million, or 54.7%, to $448.0 million for fiscal 2016 from $289.6 million for fiscal 2015. Gross profit expressed as a percentage of net sales increased to 32.2% in fiscal 2016 from 30.0% in fiscal 2015, an increase of 2.2 percentage points. The increase in gross profit percentage was primarily driven by the acquisition of Green Giant. Gross profit percentage was also positively impacted by decreased costs for commodities, packaging and distribution for the base business and improved product mix, which was partially offset by the unfavorable impact the decrease in base business sales volume had on cost absorption, a net reduction in base business pricing, and the impact of the write-off of Rickland Orchards inventory in connection with the Company’s decision to discontinue the brand. Selling, general and administrative expenses increased $68.9 million, or 65.0%, to $174.8 million for fiscal 2016 from $105.9 million for fiscal 2015, primarily due to the Green Giant acquisition. Acquisition-related expenses and distribution restructuring expenses increased $10.0 million for the year. The remaining $58.9 million of the increase was attributable to increases in consumer marketing of $41.6 million, selling expenses of $8.7 million (which includes a $7.5 million increase in brokerage expenses and a $1.2 million increase in salesperson compensation), warehousing expenses of $7.4 million and general and administrative expenses of $1.2 million (primarily related to compensation). Expressed as a percentage of net sales, selling, general and administrative expenses increased 1.5 percentage points to 12.5% for fiscal 2016 from 11.0% for fiscal 2015. Net interest expense increased $23.4 million, or 45.6%, to $74.5 million for fiscal 2016 from $51.1 million in fiscal 2015. The increase was primarily attributable to additional indebtedness outstanding during fiscal 2016 as compared to fiscal 2015 as a result of the Green Giant acquisition, the spices & seasonings acquisition and the Victoria acquisition. The Company’s reported net income under GAAP was $109.4 million, or $1.73 per diluted share, for fiscal 2016, as compared to reported net income of $69.1 million, or $1.22 per diluted share, for fiscal 2015. The Company’s adjusted net income for fiscal 2016, which excludes an intangible asset impairment-related adjustment to deferred taxes resulting from the Company’s decision to discontinue the Rickland Orchards brand, the after-tax impact of the non-cash impairment charge and the related loss on disposal of inventory, loss on extinguishment of debt, the amortization of acquisition-related inventory step-up, other acquisition-related expenses and distribution restructuring expenses, was $131.1 million, or $2.07 per adjusted diluted share. The Company’s adjusted net income for fiscal 2015, which excludes the acquisition-related adjustment to deferred taxes and the after-tax impact of the amortization of acquisition-related inventory step-up, other acquisition-related expenses and distribution restructuring expenses and the loss on product recall, was $86.8 million, or $1.53 per adjusted diluted share. For fiscal 2016, adjusted EBITDA (which excludes the impact of the amortization of acquisition-related inventory step-up, the non-cash intangible asset impairment charge and related loss on disposal of inventory, loss on product recall and other acquisition-related and distribution restructuring expenses), increased 47.9% to $322.0 million from $217.8 million for full year 2015. For full year 2017, net sales is expected to be approximately $1.64 billion to $1.68 billion, consumer marketing spending is expected to be approximately $75.0 million to $80.0 million, with approximately 35% of the total spending occurring in the first quarter of 2017, adjusted EBITDA is expected to be approximately $360.0 million to $375.0 million and adjusted diluted earnings per share is expected to be $2.13 to $2.27. B&G Foods provides earnings guidance only on a non-GAAP basis and does not provide a reconciliation of the Company’s forward-looking adjusted EBITDA and adjusted diluted earnings per share guidance to the most directly comparable GAAP financial measures because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations, including adjustments that could be made for deferred taxes; loss on extinguishment of debt; acquisition-related expenses, gains and losses; intangible asset impairment charges and related asset write-offs; loss on product recalls; restructuring expenses; and other charges reflected in our reconciliation of historic non-GAAP financial measures, the amounts of which, based on past experience, could be material. For additional information regarding B&G Foods’ non-GAAP financial measures, see “About Non-GAAP Financial Measures and Items Affecting Comparability” below. B&G Foods will hold a conference call at 4:30 p.m. ET today, February 23, 2017. The call will be webcast live from B&G Foods’ website at www.bgfoods.com under “Investor Relations—Company Overview.” The call can also be accessed live over the phone by dialing (888) 282-4056 for U.S. callers or (913) 312-0850 for international callers. A replay of the call will be available two hours after the call and can be accessed by dialing (844) 512-2921 for U.S. callers or (412) 317-6671 for international callers; the password is 6779173. The replay will be available from February 23, 2017 through March 9, 2017. Investors may also access a web-based replay of the call at the Investor Relations section of B&G Foods’ website, www.bgfoods.com. About Non-GAAP Financial Measures and Items Affecting Comparability “Adjusted net income,” “adjusted diluted earnings per share,” “base business net sales” (net sales without the impact of acquisitions until the acquisitions are included in both comparable periods and without the impact of discontinued brands), “EBITDA” (net income before net interest expense, income taxes, depreciation and amortization and loss on extinguishment of debt), and “adjusted EBITDA” (EBITDA as adjusted for cash and non-cash acquisition-related expenses, gains and losses (which may include third party fees and expenses, integration, restructuring and consolidation expenses and amortization of acquired inventory fair value step-up); intangible asset impairment charges and related asset write-offs; loss on product recalls, including customer refunds, selling, general and administrative expenses and the impact on cost of sales; and distribution restructuring expenses) are “non-GAAP financial measures.” A non-GAAP financial measure is a numerical measure of financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in B&G Foods’ consolidated balance sheets and related consolidated statements of operations, comprehensive income, changes in stockholders’ equity and cash flows. Non-GAAP financial measures should not be considered in isolation or as a substitute for the most directly comparable GAAP measures. The Company’s non-GAAP financial measures may be different from non-GAAP financial measures used by other companies. The Company uses “adjusted net income,” “adjusted diluted earnings per share,” and “base business net sales,” which are calculated as reported net income, reported diluted earnings per share and reported net sales adjusted for certain items that affect comparability. These non-GAAP financial measures reflect adjustments to reported net income, diluted earnings per share and net sales to eliminate the items identified above. This information is provided in order to allow investors to make meaningful comparisons of the Company’s operating performance between periods and to view the Company’s business from the same perspective as the Company’s management. Because the Company cannot predict the timing and amount of these items, management does not consider these items when evaluating the Company’s performance or when making decisions regarding allocation of resources. Additional information regarding EBITDA and adjusted EBITDA, and a reconciliation of EBITDA and adjusted EBITDA to net income and to net cash provided by operating activities is included below for the fourth quarter and full year of 2016 and 2015, along with the components of EBITDA and adjusted EBITDA. Also included below are reconciliations of the non-GAAP terms adjusted net income, adjusted diluted earnings per share and base business net sales to the most directly comparable measure calculated and presented in accordance with GAAP in the Company’s consolidated balance sheets and related consolidated statements of operations, comprehensive income, changes in stockholders’ equity and cash flows. B&G Foods and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Based in Parsippany, New Jersey, B&G Foods’ products are marketed under many recognized brands, including Ac’cent, B&G, B&M, Baker’s Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary’s, Cream of Rice, Cream of Wheat, Devonsheer, Don Pepino, Durkee, Emeril’s, Grandma’s Molasses, Green Giant, JJ Flats, Joan of Arc, Las Palmas, Le Sueur, MacDonald’s, Mama Mary’s, Maple Grove Farms, Molly McButter, Mrs. Dash, New York Flatbreads, New York Style, Old London, Original Tings, Ortega, Pirate’s Booty, Polaner, Red Devil, Regina, Sa-són, Sclafani, Smart Puffs, Spice Islands, Spring Tree, Sugar Twin, Tone’s, Trappey’s, TrueNorth, Underwood, Vermont Maid, Victoria, Weber and Wright’s. B&G Foods also sells and distributes Static Guard, a household product brand. Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” The forward-looking statements contained in this press release include, without limitation, statements related to B&G Foods’ net sales, consumer marketing spending, adjusted EBITDA, adjusted diluted earnings per share and overall expectations for fiscal 2017. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of B&G Foods to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “projects,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in B&G Foods’ filings with the Securities and Exchange Commission, including under Item 1A, “Risk Factors” in the Company’s most recent Annual Report on Form 10-K and in its subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. B&G Foods undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

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