Hulman & Co., the owners of the Indianapolis Motor Speedway and IndyCar, announced this week that it has sold the Clabber Girl Corp. to focus on motorsports and entertainment, which CEO Mark Miles called its “core focus,” according to Indiana Business Journal.

B&G Foods Inc., which manufactures and sells shelf-stable and frozen foods and is based in Parsippany, New Jersey, has purchased Clabber Girl for $80 million in cash.

"This decision positions us to fully focus on the continued direction and growth of IndyCar, the Indianapolis Motor Speedway and IMS Productions,” Miles said in a written statement.

IMS was built in 1909. The first Indianapolis 500 took place 1911, with the exception of skipping some races during World War I and World War II.

Clabber Girl, a company that dates to the 1850s, is best known for baking powder and baking soda products that are sold under that brand name, but it also makes gelatin, mousse, puddings and pie fillings under the Royal brand name and sells coffee through Rex Roasting Co.

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