Why Buffett's Kraft Deal Could Mean Big Things

B&G Foods will potentially be a buyer of any smaller brands that get spun off in Warren Buffett's purchase of Kraft Foods Group, said B&G CEO Robert Cantwell. Cantwell added that there are a number of brands with sales of less than $100 million per year that would fit well in B&G's portfolio. He said the company's first quarter sales growth of 9.6% to $217 million was primarily driven by its Ortega and Pirate's Booty brands. Cantwell also said B&G raised prices in January and it did not hurt volume growth. Finally, Cantwell said B&G is cleaning up its labels as a result of the trend toward healthier food and pushing its healthier, salty snack brands like Pirate's Booty.