B&G Foods mulling sale of frozen vegetable business

B&G Foods is evaluating potential divestitures that represent between 10 and 15 per cent of the company’s consolidated net sales. This is part of the company’s plans to accelerate the reshaping of its portfolio in order to sharpen focus, improve margins and cash flow, and maximize future value creation.

The company divested the Green Giant U.S. canned vegetable business in November 2023 and the Back to Nature brand in January 2023. After careful analysis, B&G Foods has decided to place its frozen and remaining canned vegetable businesses under strategic review. It is evaluating a possible divestiture of some or all of the assets in its Frozen & Vegetable business unit, either in a single transaction or in a series of transactions.

Casey Keller, president and CEO, B&G Foods, said, “Green Giant remains a strong brand with broad awareness and distribution, and the frozen vegetables category is on trend with health and dietary trends. However, I believe the frozen vegetable business may not be the right fit with B&G Foods’ focus and capabilities, particularly since we have no plans to add more assets in the frozen portfolio given the opportunities in our core shelf-stable businesses and overall capital constraints.”