B&G Foods Sells Green Giant Frozen Vegetable Line to Seneca Foods
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 02 2026
0mins
B&G Foods (BGS) announced that it has sold its Green Giant U.S. frozen vegetable product line to Seneca Foods (SENEA). B&G Foods previously sold the Green Giant U.S. shelf-stable vegetable product line to Seneca Foods in November 2023 and the Le Sueur U.S. shelf-stable vegetable product line to McCall Farms in August 2025. In addition, in October 2025, B&G Foods entered into an agreement to sell the Green Giant and Le Sieur frozen and shelf-stable vegetable product lines in Canada to Nortera Foods. B&G Foods expects that sale to close during the second quarter of 2026, subject to regulatory approval in Canada and the satisfaction of customary closing conditions. The sale, which is effective immediately, includes B&G Foods' frozen vegetable manufacturing operations in Yuma, Arizona. B&G Foods will maintain its frozen vegetable manufacturing operations in Irapuato, Mexico and has entered into a co-pack agreement with Seneca Foods pursuant to which B&G Foods will continue to produce certain Green Giant frozen products for Seneca Foods. B&G Foods intends to use the proceeds from the sale for general corporate purposes, including the repayment of long-term debt and the purchase of assets useful in B&G Foods' business, and to pay taxes, fees and expenses related to the sale. The terms of the transaction were not disclosed. Barclays Capital Inc. and Deutsche Bank Securities Inc. acted as financial advisors to B&G Foods.
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Analyst Views on BGS
Wall Street analysts forecast BGS stock price to fall
5 Analyst Rating
0 Buy
4 Hold
1 Sell
Hold
Current: 4.140
Low
3.00
Averages
4.10
High
5.00
Current: 4.140
Low
3.00
Averages
4.10
High
5.00
About BGS
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, canola and other cooking oils, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, wine vinegar, maple syrup, molasses, salad dressings, dry soups, tomato-based products, crackers, baking powder, baking soda, corn starch, nut clusters and other specialty products. It operates in four segments: Specialty, Meals, Frozen and Vegetables, and Spices and Flavor Solutions. Its products are marketed under various brands, including B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Baker's Joy, Regina, TrueNorth, Static Guard, SugarTwin, Brer Rabbit Green Giant, Las Palmas, Mama Mary’s, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands, Victoria, Mama Mary's, Spring Tree, Victoria and now, College Inn and Kitchen Basics, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Investigation into B&G Foods' Securities Fraud Claims
- Dividend Cut Impact: B&G Foods announced a reduction in its quarterly dividend from $0.19 to $0.095 per share, aiming to retain a substantial portion of cash for debt repayment or other business needs, which may negatively affect investor confidence and future cash flow.
- Significant Stock Drop: Following the dividend cut announcement, B&G's stock price fell by $0.68, or 13.41%, closing at $4.39 per share on May 13, 2026, indicating market concerns regarding the company's financial health.
- Legal Investigation Initiated: Pomerantz LLP is investigating whether B&G and its executives have engaged in securities fraud or other unlawful business practices, which could expose the company to legal liabilities and further impact its stock performance.
- Investor Contact Information: Pomerantz LLP encourages affected investors to contact Danielle Peyton for information on joining the class action, highlighting the potential for legal action to significantly affect the company's future operations and reputation.
See More
B&G Foods Under Investigation for Securities Fraud
- Dividend Cut Impact: B&G Foods announced a reduction in its quarterly dividend from $0.19 to $0.095 per share, a move aimed at retaining a substantial portion of excess cash for debt repayment or other business needs, indicating financial strain on the company.
- Stock Price Plunge: Following the dividend cut announcement, B&G's stock price fell by $0.68, or 13.41%, closing at $4.39 per share on May 13, 2026, reflecting investor concerns regarding the company's financial health.
- Legal Investigation Launched: Pomerantz LLP is investigating whether B&G and its executives have engaged in securities fraud or other unlawful business practices, which could expose the company to legal liabilities and further exacerbate market concerns about its future performance.
- Investor Contact Information: Pomerantz LLP is encouraging affected investors to reach out via email or phone to join the class action, highlighting the potential risks associated with the company's legal issues and their impact on investor confidence.
See More
B&G Foods Cuts Quarterly Dividend Amid Investigation
- Dividend Cut Impact: B&G Foods announced a reduction in its quarterly dividend from $0.19 to $0.095 per share, aiming to retain a substantial portion of excess cash for debt repayment or other business needs, indicating increased financial pressure on the company.
- Stock Price Reaction: Following the dividend cut announcement, B&G's stock price fell by $0.68, or 13.41%, closing at $4.39 per share on May 13, 2026, reflecting market concerns regarding the company's financial health.
- Legal Investigation Initiated: Pomerantz LLP is investigating whether B&G Foods and its executives have engaged in securities fraud or other unlawful business practices, which could negatively impact the company's reputation and future operations.
- Investor Alert: Investors are advised to contact Pomerantz LLP to join the class action, highlighting market concerns over corporate governance and transparency, potentially leading to further legal and financial risks.
See More
B&G Foods Cuts Dividend Sharply, Shares Decline
- Earnings Beat: B&G Foods reported first-quarter revenue of $409 million, down 4% year-over-year but $9 million above expectations, indicating resilience in market competitiveness despite divestitures of businesses like Green Giant.
- Dividend Cut: The company slashed its quarterly dividend nearly in half to $0.09 per share, aiming to save $30 million to reduce leverage and better position itself for upcoming debt maturities, reflecting a cautious approach to financial management.
- Upgraded Profit Outlook: B&G Foods raised its fiscal 2026 net sales guidance to a range of $1.735 billion to $1.775 billion, exceeding the $1.73 billion market estimate, showcasing confidence in future growth despite geopolitical and inflation risks.
- Adjusted Earnings Performance: Although the company reported a net loss of $0.41 per share due to asset sales, its adjusted earnings per share of $0.08 doubled from last year and beat expectations by 2 cents, indicating ongoing profitability in core operations.
See More
B&G Foods Q1 2026 Earnings Call Insights
- Portfolio Restructuring: B&G Foods completed the divestiture of the Green Giant U.S. frozen business and acquired the College Inn and Kitchen Basics broth and stock businesses, aiming to enhance EBITDA and margins by replacing low-margin operations, which helped reduce the pro forma net leverage ratio to nearly 6x in Q1.
- Sales Growth Performance: The base business net sales increased by 2.8% year-over-year to $365.1 million in Q1, driven by volume increases, net pricing improvements, and product mix enhancements, indicating the company's stability and growth potential in the market.
- Financial Outlook Adjustment: The company raised its fiscal year 2026 net sales guidance to $1.735 billion to $1.775 billion and adjusted EBITDA expectations to $275 million to $290 million, reflecting contributions from the newly acquired brands, although trends for the remaining quarters are expected to be flat to slightly down.
- Cost Control Measures: Management indicated ongoing efforts to reduce direct costs associated with the Green Giant business and plans to use 50% of the savings from the dividend cut for debt repayment, addressing cost pressures from oil and soybean oil price volatility.
See More
B&G Foods Reports Mixed Q1 Results Amid Strategic Changes
- Divestiture Impact: B&G Foods completed the divestiture of its U.S. Frozen business, which is expected to enhance focus and synergies, thereby improving margins, although it faces challenges with a decline in net sales in the short term.
- Acquisition Outlook: The acquisition of the Collagen and Kitchen Basics brands is anticipated to strengthen the company's shelf-stable portfolio and contribute positively to EBITDA, further driving profit growth.
- Sales Growth and Challenges: The Spices and Flavor Solutions business unit saw a 9.1% increase in net sales, driven by demand for fresh foods and proteins, but overall net sales decreased by 3.9% year-over-year, highlighting the short-term impact of divestitures.
- Financial Management Progress: The company reduced its net leverage ratio to nearly six times, indicating progress in financial management and debt reduction, despite reporting a net loss of $32.5 million in Q1, reflecting the impact of non-cash asset sale losses.
See More
Investigation into B&G Foods' Securities Fraud Claims
- Dividend Cut Impact: B&G Foods announced a reduction in its quarterly dividend from $0.19 to $0.095 per share, aiming to retain a substantial portion of cash for debt repayment or other business needs, which may negatively affect investor confidence and future cash flow.
- Significant Stock Drop: Following the dividend cut announcement, B&G's stock price fell by $0.68, or 13.41%, closing at $4.39 per share on May 13, 2026, indicating market concerns regarding the company's financial health.
- Legal Investigation Initiated: Pomerantz LLP is investigating whether B&G and its executives have engaged in securities fraud or other unlawful business practices, which could expose the company to legal liabilities and further impact its stock performance.
- Investor Contact Information: Pomerantz LLP encourages affected investors to contact Danielle Peyton for information on joining the class action, highlighting the potential for legal action to significantly affect the company's future operations and reputation.
See More
B&G Foods Under Investigation for Securities Fraud
- Dividend Cut Impact: B&G Foods announced a reduction in its quarterly dividend from $0.19 to $0.095 per share, a move aimed at retaining a substantial portion of excess cash for debt repayment or other business needs, indicating financial strain on the company.
- Stock Price Plunge: Following the dividend cut announcement, B&G's stock price fell by $0.68, or 13.41%, closing at $4.39 per share on May 13, 2026, reflecting investor concerns regarding the company's financial health.
- Legal Investigation Launched: Pomerantz LLP is investigating whether B&G and its executives have engaged in securities fraud or other unlawful business practices, which could expose the company to legal liabilities and further exacerbate market concerns about its future performance.
- Investor Contact Information: Pomerantz LLP is encouraging affected investors to reach out via email or phone to join the class action, highlighting the potential risks associated with the company's legal issues and their impact on investor confidence.
See More
B&G Foods Cuts Quarterly Dividend Amid Investigation
- Dividend Cut Impact: B&G Foods announced a reduction in its quarterly dividend from $0.19 to $0.095 per share, aiming to retain a substantial portion of excess cash for debt repayment or other business needs, indicating increased financial pressure on the company.
- Stock Price Reaction: Following the dividend cut announcement, B&G's stock price fell by $0.68, or 13.41%, closing at $4.39 per share on May 13, 2026, reflecting market concerns regarding the company's financial health.
- Legal Investigation Initiated: Pomerantz LLP is investigating whether B&G Foods and its executives have engaged in securities fraud or other unlawful business practices, which could negatively impact the company's reputation and future operations.
- Investor Alert: Investors are advised to contact Pomerantz LLP to join the class action, highlighting market concerns over corporate governance and transparency, potentially leading to further legal and financial risks.
See More
B&G Foods Cuts Dividend Sharply, Shares Decline
- Earnings Beat: B&G Foods reported first-quarter revenue of $409 million, down 4% year-over-year but $9 million above expectations, indicating resilience in market competitiveness despite divestitures of businesses like Green Giant.
- Dividend Cut: The company slashed its quarterly dividend nearly in half to $0.09 per share, aiming to save $30 million to reduce leverage and better position itself for upcoming debt maturities, reflecting a cautious approach to financial management.
- Upgraded Profit Outlook: B&G Foods raised its fiscal 2026 net sales guidance to a range of $1.735 billion to $1.775 billion, exceeding the $1.73 billion market estimate, showcasing confidence in future growth despite geopolitical and inflation risks.
- Adjusted Earnings Performance: Although the company reported a net loss of $0.41 per share due to asset sales, its adjusted earnings per share of $0.08 doubled from last year and beat expectations by 2 cents, indicating ongoing profitability in core operations.
See More
B&G Foods Q1 2026 Earnings Call Insights
- Portfolio Restructuring: B&G Foods completed the divestiture of the Green Giant U.S. frozen business and acquired the College Inn and Kitchen Basics broth and stock businesses, aiming to enhance EBITDA and margins by replacing low-margin operations, which helped reduce the pro forma net leverage ratio to nearly 6x in Q1.
- Sales Growth Performance: The base business net sales increased by 2.8% year-over-year to $365.1 million in Q1, driven by volume increases, net pricing improvements, and product mix enhancements, indicating the company's stability and growth potential in the market.
- Financial Outlook Adjustment: The company raised its fiscal year 2026 net sales guidance to $1.735 billion to $1.775 billion and adjusted EBITDA expectations to $275 million to $290 million, reflecting contributions from the newly acquired brands, although trends for the remaining quarters are expected to be flat to slightly down.
- Cost Control Measures: Management indicated ongoing efforts to reduce direct costs associated with the Green Giant business and plans to use 50% of the savings from the dividend cut for debt repayment, addressing cost pressures from oil and soybean oil price volatility.
See More
B&G Foods Reports Mixed Q1 Results Amid Strategic Changes
- Divestiture Impact: B&G Foods completed the divestiture of its U.S. Frozen business, which is expected to enhance focus and synergies, thereby improving margins, although it faces challenges with a decline in net sales in the short term.
- Acquisition Outlook: The acquisition of the Collagen and Kitchen Basics brands is anticipated to strengthen the company's shelf-stable portfolio and contribute positively to EBITDA, further driving profit growth.
- Sales Growth and Challenges: The Spices and Flavor Solutions business unit saw a 9.1% increase in net sales, driven by demand for fresh foods and proteins, but overall net sales decreased by 3.9% year-over-year, highlighting the short-term impact of divestitures.
- Financial Management Progress: The company reduced its net leverage ratio to nearly six times, indicating progress in financial management and debt reduction, despite reporting a net loss of $32.5 million in Q1, reflecting the impact of non-cash asset sale losses.
See More
