Parsippany, New Jersey-based B&G Foods has sold the Le Sueur brand of premium sweet peas, green beans and carrots to McCall Farms.
“Our sale of the Le Sueur brand represents continued progress in our ongoing efforts to reshape our portfolio, sharpen focus on our core brands and reduce long-term debt,” said Casey Keller, president and CEO of B&G Foods.
“The Le Sueur brand has performed very well for us over the years, and we believe it will continue to thrive under the ownership of McCall Farms.”
B&G Foods intends to use the proceeds from the sale for general corporate purposes, including the repayment of long-term debt and the purchase of assets useful in its business, as well as to pay taxes, fees and expenses related to the sale.
The terms of the transaction were not disclosed. The sale does not include the Le Sieur brand in Canada.
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About B&G Foods Inc.
B&G Foods and its subsidiaries manufacture, sell and distribute branded shelf-stable and frozen foods across the U.S., Canada and Puerto Rico.
The company has a portfolio of more than 50 brands, including B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Green Giant, Las Palmas, Mama Mary’s, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands and Victoria.