B&G Foods Closes Public Offering Of 10M Shares

PARSIPPANY, N.J. (AP) — B&G Foods Inc., which makes foods under brand names including Cream of Wheat and Grandma's Molasses, said Friday it closed its public offering of 10 million shares for $8 each.

The company said proceeds of the offering, minus underwriting discounts and commissions, totaled $75.6 million. The Parsippany, N.J. company said it plans to use proceeds for general corporate purposes, which could include paying down debt.

Underwriters have the option for a 30-day period to buy an additional 1.5 million shares.

Shares rose 11 cents to $8.13 during late morning trading.