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B&G Foods Sells B&M and Joan of Arc Brands to McCall Farms

BGS
  • B&G Foods, Inc. sold the B&M brand of baked beans & brown bread to McCall Farms, Inc.
  • The transaction included the Joan of Arc brand of kidney, chili, & other canned beans.
  • Robert D. Mills stated the sale supports efforts to simplify the portfolio, focus on core brands, & strengthen the balance sheet.
  • B&G Foods intends to use the net proceeds from the sale to repay long-term debt.
  • The financial terms of the transaction were not disclosed.
  • B&G Foods remains focused on actions that support profitable growth & reduce leverage.