B&g Foods Offloads Le Sueur Brand To Mccall Farms

The institution will usage nan proceeds to repay “long-term debt”, according to a connection connected 1 August.

Homepage of B&G Foods Inc. Credit: OleksandrShnuryk/Shutterstock.com.

US shaper B&G Foods has sold its Le Sueur brand, known for “premium” saccharine peas, greenish beans, and carrots, to McCall Farms.

Financial position of nan transaction were not disclosed.

The institution will utilise nan proceeds to repay “long-term debt”, according to a connection connected 1 August.

It will besides usage nan proceeds to bargain assets for its business, and screen taxes, fees, and expenses associated pinch nan sale.

The transaction excludes nan Le Sieur marque successful Canada.

Casey Keller, president and CEO of B&G Foods, said nan move will “sharpen attraction connected our halfway brands”, adding Le Sueur brand has “performed very well” nether its ownership.

The waste follows B&G Foods’ divestiture successful May of its Don Pepino and Sclafani brands, offering pizza, pasta sauces, and canned tomatoes, to Violet Foods, a portfolio institution of Aphora Equity Partners.

The woody included B&G Foods’ manufacturing installation successful Williamstown, New Jersey, wherever nan brands’ products are produced.

Headquartered successful Parsippany, New Jersey, B&G Foods manufactures, sells, and distributes complete 50 brands crossed nan US, Canada, and Puerto Rico.

It has a divers scope of brands including B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Green Giant, and Victoria.

The marque income travel aft B&G Foods recorded $320m successful impairment charges successful 2024, described arsenic “related to intangible trademark assets” for its Green Giant, Victoria, Static Guard, and McCann’s brands.

These charges contributed to nan company’s deeper financial losses past year.

In its fiscal 2025 outlook, B&G Foods initially projected nett income of $1.89bn to $1.95bn, pinch adjusted EBITDA of $290m to $300m and adjusted diluted net per stock of $0.65 to $0.75.

However, successful May, nan institution revised its guidance downward, forecasting nett income of $1.86bn to $1.91bn, adjusted EBITDA of $280m to $290m, and adjusted diluted net per stock of $0.55 to $0.65.

This followed a first-quarter study showing a 10.5% diminution successful full nett income to $425.4m.

In nan Frozen & Vegetable segment, which includes Le Sueur, nett income fell 11.2% year-on-year.