B&G Foods Sells Green Giant Frozen Vegetable Line to Seneca Foods
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 02 2026
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Should l Buy BGS?
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: 5.440
Low
3.00
Averages
4.10
High
5.00
Current: 5.440
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, 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, maple syrup, molasses, 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 Crisco, Clabber Girl, Bear Creek, Polaner, Underwood, B&G, Grandma's, New York Style, B&M, Baker's Joy, Regina, TrueNorth, Static Guard, SugarTwin, Brer Rabbit, Ortega, Maple Grove Farms, Cream of Wheat, Las Palmas, Victoria, Mama Mary's, Spring Tree, McCann's, Carey's, Vermont Maid, Green Giant, Dash, Spice Islands, Weber, Ac'cent, Tone's, Trappey's, Durkee and Wright's.
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.
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See More
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- Earnings Report Highlights: While B&G reported an adjusted profit of $0.28 per share, missing Wall Street expectations, its revenue of $539.6 million exceeded analyst estimates by $2.1 million, indicating resilience in sales despite a 2.2% year-over-year decline.
- Positive Future Outlook: B&G forecasts revenue between $1.655 billion and $1.695 billion for 2026, down from last year's $1.83 billion, but projects adjusted earnings per share to rise from $0.51 to between $0.55 and $0.65, suggesting potential profitability improvements.
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See More
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- Financial Performance Overview: For Q4 2025, net sales were $539.6 million, down 2.2% year-over-year primarily due to brand divestitures, while adjusted EBITDA stood at $84.7 million, representing 15.7% of net sales, indicating slight growth in the base business despite challenges.
- Future Outlook: Management set 2026 guidance for net sales between $1.655 billion and $1.695 billion, with adjusted EBITDA expected to range from $265 million to $275 million, reflecting confidence in core business trends, although pending transactions remain a focus.
- Risks and Challenges: Management identified ongoing tariff pressures and soybean oil cost volatility as key risks, noting that pricing actions have been implemented to mitigate impacts, but market competition and the profitability of new agreements will require close monitoring.
See More
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See More
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- Sales Decline: B&G Foods reported Q4 sales of $539.6 million, down 2.2% year-over-year, primarily due to the divestitures of Le Sueur and Don Pepino, although an increase in base business net sales indicates efforts to adjust product mix.
- Net Income Reduction: Adjusted net income was $22.8 million, or $0.28 per adjusted diluted share, down from $24.6 million and $0.31 a year ago, primarily due to decreased net sales and rising raw material costs, reflecting the cost pressures faced by the company.
- EBITDA Performance: Adjusted EBITDA stood at $84.7 million, slightly down from $86.1 million a year prior, indicating challenges in profitability, although core business trends have shown improvement in the first quarter.
- Strategic Restructuring Progress: CEO Casey Keller highlighted the divestiture of the Green Giant U.S. frozen vegetable business as a significant milestone in the company's long-term strategy to focus on core operations and reduce long-term debt, thereby enhancing financial health.
See More
