USA: B&G Foods sells Green Giant canned vegetable portfolio to Seneca Foods

B&G Foods, the US-based ambient and frozen foods firm, has announced that it has sold its Green Giant US shelf-stable vegetable product line to peer Seneca Foods for an undisclosed sum.

The divestment will see B&G Foods retain ownership of Green Giant trademarks, and license the brand name to Seneca Foods for shelf-stable products. The deal excludes frozen items, Green Giant Canada, and the Le Sueur brand.

Commenting on the move, B&G Foods president and CEO Casey Keller said: “Our decision to sell the US 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”.

Paul Palmby, president and chief executive officer of Seneca Foods, added: “We are excited to add the iconic Green Giant brand and shelf-stable products to our portfolio of canned vegetable offerings. Having co-manufactured much of this product for B&G Foods for many years, we have long admired the strength of the brand in the market and look forward to its continued success”.

Source: B&G Foods / Seneca Foods