StageAcquired - II | Acquired
About Back to Nature
Back to Nature provides food products. It offers cookies, cereals, crackers, soup, granola, juices, nuts, and trail mix. The company was founded in 1960 and is based in Parsippany, New Jersey. In December 2022, Back to Nature was acquired by Barilla America. The terms of the transaction were not disclosed.
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Expert Collections containing Back to Nature
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Back to Nature is included in 1 Expert Collection, including Food & Beverage .
Food & Beverage
Latest Back to Nature News
May 10, 2023
Source: ©THE TOIDI — STOCK.ADOBE.COM PARSIPPANY, NY. — B&G Foods, Inc. in January completed the sale of its Back to Nature business . The divestment represented a strategic departure from the snack aisle. “We’re no longer in snacks in a big way,” said Bruce C. Wacha, chief financial officer, during a May 4 conference call to discuss first-quarter results. “It's not a priority for us. So, a smallish cookie and cracker business, even though it's a really nice business, just isn't a fit for us.” Efforts to reshape the portfolio continue, with a focus on spices and seasonings, meals, frozen foods and vegetables, and specialty foods. Executives are “actively evaluating” additional divestitures to sharpen the company’s focus and reduce debt, said Kenneth C. Keller, president and chief executive officer. “We will probably divest businesses in the future,” Mr. Keller said. “But obviously, we’re not going to fire-sale. So, we’re going to be deliberate about when and how we do it. But it is aligned with the strategy of what categories and portfolio pieces we want to stay in in the longer term and which ones we don’t feel we have enough scale or enough capabilities to stay in.” Net income for the first quarter ended April 1 was $3.4 million, equal to 5¢ per share on the common stock, down 86% from $23.7 million, or 34¢, in the prior-year period. Results were negatively impacted by income tax expense of $14.7 million resulting from the divestiture of the Back to Nature business. Adjusted net income was $19.1 million, down from $19.8 million. Net sales declined 3.9% to $511.8 million from $532.4 million the year before. The decrease was attributed to the Back to Nature divestiture, partially offset by the acquisition of Yuma. Base business net sales, which excludes the divested business, eased 1.2% to $511.4 million from $517.8 million, driven by a decrease in unit volume and the unfavorable impact of foreign currency translation, which were partially offset by increases in net pricing and the impact of product mix. “Net sales were mixed across the portfolio,” Mr. Wacha said. “Among our largest brands, Clabber Girl had the best performance in the first quarter of 2023, and net sales were up by $6.5 million, or 31%, compared to the year-ago period. Clabber Girl is seeing strength across all of its product lines, including baking powder, baking soda and cornstarch and channels, including branded retail, private label and industrial. “Our spices and seasonings business also had very strong net sales performance for the first quarter of 2023 with our various spices and seasonings brands, including Dash, Tone’s and Weber and others increasing by $8.4 million, or 9.6%, in the aggregate compared to the year-ago period. Our spices and seasonings business has largely recovered from the supply chain challenges that we faced for much of last year, and we are very much looking forward to enjoying growth in this business again.” Cream of Wheat sales were relatively flat with the prior-year quarter. Green Giant sales declined $9.9 million, or 7.3%, from the year-ago period, Mr. Wacha said, noting “profitability of this business has seen a nice recovery following our pricing initiatives.” Ortega sales fell $4.2 million, or 9.7%, compared to last year; however, consumption increased 2.4% for the quarter, Mr. Wacha said. “Crisco has seen the highest levels of inflationary pressure out of all of our brands and is therefore the brand where we have taken the highest levels of pricing,” Mr. Wacha said. “Net sales have been positive on this brand throughout much of our ownership as the benefits from pricing have more than offset any elasticity-driven volume shortfalls over the past few years. In the first quarter of this year, however, pricing began to have a greater impact on volumes. Fortunately, with the cost for the underlying commodity coming down, we have been able to increase our promotional activity, and we are already seeing improved volume performance in the recent consumption data. Our profitability on Crisco has remained robust despite movements in the underlying commodity.” Management reaffirmed its full-year forecast for net sales of $2.13 billion to $2.17 billion.
Back to Nature Frequently Asked Questions (FAQ)
When was Back to Nature founded?
Back to Nature was founded in 1960.
Where is Back to Nature's headquarters?
Back to Nature's headquarters is located at 4 Gatehall Dr, Parsippany.
What is Back to Nature's latest funding round?
Back to Nature's latest funding round is Acquired - II.
Who are the investors of Back to Nature?
Investors of Back to Nature include Barilla America, B&G Foods and Brynwood Partners.
Who are Back to Nature's competitors?
Competitors of Back to Nature include Prime Roots and 3 more.
Compare Back to Nature to Competitors
Eat Just develops plant-based alternatives to eggs, mayonnaise, and meat. Good Meat, a division of Eat Just, offers meat made from animal cells instead of livestock. The company was formerly known as Hampton Creek. It was founded in 2011 and is based in Alameda, California.
Prime Roots provides plant-based food products to offer meat and seafood alternatives. It uses plant-based products as an alternative protein that replicates the taste, texture, and nutrition of meat and seafood products. The company was formerly known as Terramino Foods. Prime Roots was founded in 2017 and is based in Berkeley, California.
Impossible Foods develops technologies to produce plant-based foods that replace existing meat and dairy products in taste and nutrition, at a lower cost and with a much lower impact on the global environment. Impossible Chicken Nuggets are made with soy protein to deliver a meaty bite.
No Evil Foods produces environmentally sustainable, plant-based meats.
Spero Foods operates as a data-driven food company. It is a plant-based dairy tech company on a mission to outcompete dairy in price and taste. It offers plant-based, dairy-alternative products specializing in creating tasty eggs and cheeses. It was founded in 2016 and is based in Silicon Valley, California.
Aleph Farms operates as a food technology company specializing in cell-grown meat. It grows beef steaks, from non-genetically engineered and non-immortalized cells isolated from a living cow, without slaughtering the animal and with a significantly reduced impact on the environment. It was founded in 2017 and is based in Rehovot, Israel.
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