Seneca Foods Corporation (NasdaqGS:SENE.A) acquired Green Giant U.S. shelf stable vegetable product line of B&G Foods, Inc. for approximately $55.2 million.
November 07, 2023
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Seneca Foods Corporation (NasdaqGS:SENE.A) acquired Green Giant U.S. shelf stable vegetable product line of B&G Foods, Inc. (NYSE:BGS) for approximately $55.6 million on November 8, 2023. The initial purchase price of approximately $55.6 million is payable in cash and was funded from borrowings under the Seneca Foods?s Revolver. The initial purchase price is subject to certain post-closing adjustments which are expected to be finalized prior to Seneca Foods' fiscal year ending on March 31, 2024. The sale does not include Green Giant frozen, Green Giant Canada or the Le Sueur brand. The acquired assets include inventory and an associated license which allowsSeneca Foods to manufacture, market, distribute, and sell Green Giant ® shelf-stable vegetable products within the United States in perpetuity. B&G Foods intends to use the net proceeds from the sale for the repayment of long-term debt.
Seneca Foods Corporation (NasdaqGS:SENE.A) completed the acquisition of Green Giant U.S. shelf stable vegetable product line of B&G Foods, Inc. (NYSE:BGS) for $55.2 million on November 8, 2023.
B&G Foods, Inc. manufactures, sells and distributes branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Its products include frozen and canned vegetables, vegetable, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, and other specialty products. It operates in four segments: Specialty, Meals, Frozen & Vegetables and Spices & Flavor Solutions. Its products are marketed under various brands, including Ac'cent, B&G, B&M, Baker's Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary's, Clabber Girl, Cream of Rice, Cream of Wheat, Crisco, Dash, Davis, Devonsheer, Don Pepino, Durkee, Grandma's Molasses, Green Giant, Joan of Arc, Las Palmas, Le Sueur, MacDonald's, Mama Mary's, Maple Grove Farms of Vermont, McCann's, Molly McButter, New York Flatbreads, New York Style, Old London, Polaner, and Wright's.
Seneca Foods Corporation (NasdaqGS: SENE.A) acquired Green Giant U.S. shelf stable vegetable product line of B&G Foods, Inc. for approximately $55.2 million.
B&G FOODS, INC. 
