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PARSIPPANY, N.J. - B&G Foods, Inc. (NYSE:BGS) announced Monday it has agreed to sell its Green Giant and Le Sieur frozen and shelf-stable vegetable product lines in Canada to Nortera Foods. The transaction is expected to close during the fourth quarter of 2025 or first quarter of 2026, subject to regulatory approval in Canada.
The sale marks another step in B&G Foods’ ongoing divestiture strategy. The company previously sold the Green Giant U.S. shelf-stable vegetable product line to Seneca Foods in November 2023 and the Le Sueur U.S. shelf-stable vegetable line to McCall Farms in August 2025.
"Our decision to sell the Green Giant and Le Sieur brands in Canada is another milestone in our ongoing effort to divest brands and product lines that are non-core to B&G Foods’ long-term strategy, sharpen our focus and reduce long-term debt," said Casey Keller, President and Chief Executive Officer of B&G Foods, in a press release statement.
B&G Foods noted that Nortera Foods has been the primary co-manufacturer for the brand in Canada. The company plans to use proceeds from the sale for general corporate purposes, including debt repayment and purchase of assets for its business.
The company also stated it continues to evaluate a possible divestiture of its Green Giant U.S. frozen vegetable product line, which would complete its exit from the Green Giant business acquired in 2015.
Financial terms of the transaction were not disclosed. Barclays Capital Inc. and Deutsche Bank Securities Inc. served as financial advisors to B&G Foods for the deal.
B&G Foods, based in Parsippany, New Jersey, manufactures and distributes more than 50 branded food products across the United States, Canada and Puerto Rico.
In other recent news, B&G Foods reported its second-quarter 2025 earnings, missing both earnings per share (EPS) and revenue forecasts. The company announced an EPS of $0.04, which was below the anticipated $0.06, representing a negative surprise of 33.33%. Revenue also fell short of expectations, totaling $424.4 million compared to the forecasted $429 million, a shortfall of 1.07%. Despite these financial results, the company’s stock price remained stable. Analysts had projected these figures, and the actual results were less favorable than expected. There have been no recent updates regarding mergers or acquisitions involving B&G Foods. Additionally, there were no analyst upgrades or downgrades reported for the company at this time. These developments provide investors with key insights into the company’s current financial performance.
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