B&G Foods to Dispose of Remaining Green Giant Business Before Year-End

B&G Foods plans to dispose of the remaining Green Giant business before year-end, with the frozen portfolio in the US and Canada up for review. Following the sale of the Le Sueur line of sweet peas and green beans to McCall Farms, the division generated $396m in sales last year. The disposal of Green Giant is expected to result in a loss of around $360m in sales.

Title: B&G Foods to Dispose of Green Giant Business Before Year-End

B&G Foods, Inc. (NYSE: BGS) has announced plans to dispose of its remaining Green Giant business before the end of the year. The move follows the recent sale of the Le Sueur line of sweet peas and green beans to McCall Farms, which generated $396 million in sales last year. The disposal of Green Giant is expected to result in a loss of around $360 million in sales, according to the company's financial reports [1].

The frozen portfolio in the US and Canada is also up for review, adding to the company's ongoing restructuring efforts. Casey Keller, President and Chief Executive Officer of B&G Foods, stated that the company is making progress in reshaping and restructuring its portfolio to sharpen focus, simplify the business, and improve margins and cash flow. The divestitures of the Don Pepino and Sclafani brands during the second quarter and the Le Sueur brand during the third quarter have been part of this strategic initiative [1].

B&G Foods reported financial results for the second quarter and first two quarters of 2025, showing a decrease in net sales and adjusted EBITDA compared to the same periods last year. Net sales for the second quarter of 2025 decreased by $20.2 million, or 4.5%, to $424.4 million, while adjusted EBITDA decreased by $5.9 million, or 9.3%, to $58.0 million. The company also reported a net loss of $9.8 million for the second quarter, compared to net income of $3.9 million for the same period last year [1].

The company's guidance for full year fiscal 2025 has been revised to reflect these changes, with net sales expected to be in the range of $1.83 billion to $1.88 billion, adjusted EBITDA in the range of $273.0 million to $283.0 million, and adjusted diluted earnings per share in the range of $0.50 to $0.60 [1].

Investors and financial professionals should closely monitor B&G Foods' progress in its restructuring efforts and the impact of these divestitures on the company's financial performance.

References:
[1] https://www.theglobeandmail.com/investing/markets/stocks/BGS/pressreleases/33865513/bg-foods-reports-financial-results-for-second-quarter-2025/