B&G Foods Inc. has sold its Green Giant U.S. shelf-stable vegetable product line to Seneca Foods Corp.
In connection with the sale, B&G Foods, which will retain ownership of the Green Giant trademarks, will license the Green Giant brand name to Seneca Foods. The sale does not include Green Giant frozen, Green Giant Canada or the Le Sueur brand.
“Our decision to sell the U.S. shelf-stable product line of the Green Giant brand is part of our ongoing effort to divest product lines that are non-core to B&G Foods’ long-term strategy and reduce long-term debt,” said Casey Keller, president and CEO of B&G Foods.
“We believe that Seneca Foods, the long-time, primary co-manufacturer for the Green Giant U.S. shelf-stable product line, is the right owner for the U.S. shelf-stable product line. We continue to believe in the power of the iconic Green Giant brand, and the sale will allow our Green Giant team to focus on Green Giant frozen, Green Giant Canada and the Le Sueur brand.”
B&G Foods intends to use the net proceeds from the sale for the repayment of long-term debt.
About B&G Foods Inc.
Based in Parsippany, New Jersey, B&G Foods and its subsidiaries manufacture, sell and distribute shelf-stable and frozen foods across the U.S., Canada and Puerto Rico. B&G Foods has a portfolio of more than 50 brands, including B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Green Giant, Las Palmas, Le Sueur, Mama Mary’s, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands and Victoria.
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