B&G Foods, Inc. (BGS)
Barclays Back-to-School Conference Call
September 06, 2012 09:45 AM ET
Dave Wenner – President and CEO
Bob Cantwell – EVP, Finance and CFO
Relative to many of its peers, B&G Foods has been notably successful at navigating the recent challenges that have faced the package food group. In addition to utilizing its portfolio strategy and true hedging to deliver above average based business growth, company also completed an opportunistic acquisition of The Culver Specialty Brands from Unilever, the combination of which has led to its outsized performance. We're delighted to have President and CEO, Dave Wenner and Executive Vice President in Finance and CFO, Bob Cantwell with us today to discuss B&G in more detail. And with that, I'll turn it over to Dave. Thanks for being here.
Thank you Andrew, good morning everyone. Thanks for joining us today. We appreciate your interest in the company. Our basket gets larger and larger every year which I'm very proud of and we'll just let you read those statements on your own. When you look at B&G Foods, there is some core strengths here that really are the keys to our success over the years as a growth company, albeit a primarily growth through acquisition company. Our first is that we have been able to find acquisitions that we can make immediately accretive to our business and this has been very important. We like to think that we are very, very good at executing on acquisitions, understand what we're faced with typically which includes a sales decline of some sort from the previous owner because we are in a lot of cases buying "orphan" brands from larger food companies and then turning those businesses around and not only stopping the sales decline but putting innovation in to the brands to generate modest organic growth in the brands.