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The basics:

• B&G Foods will sell Green Giant US frozen vegetable line to Seneca Foods
• Deal expected to close Q2 2026
• Transaction includes frozen vegetable manufacturing operations in Arizona
• Sale part of B&G’s strategy to divest non-core brands, reduce debt

Parsippany-based B&G Foods Inc. has agreed to sell its U.S. frozen vegetable product line under the Green Giant brand to leading packaged food manufacturer Seneca Foods Corp.

Financial terms of the deal were not disclosed in a March 2 press release announcing the acquisition. The sale is expected to close during the second quarter of 2026, according to the companies.

The transaction follows Seneca’s acquisition of Green Giant’s U.S. shelf-stable vegetable product line from B&G in November 2023.

According to B&G, the latest transaction includes its frozen vegetable manufacturing operations in Arizona. The company plans to keep its frozen vegetable facility in Mexico, as well as enter a co-pack agreement that will it to continue making certain Green Giant frozen products for Seneca, the press release said.

Reorganizing & reviewing

After reorganizing into four business units in 2022 – Spices & Flavor Solutions, Meals, Frozen & Vegetables and Specialty – B&G has been reviewing its portfolio to see which brands fit the goals set for each of the new divisions.

Since then, divestitures have included:

• Organic, plant-based snack brand Back to Nature
• Don Pepino pizza sauce brand and Sclafani canned tomato brand
• Green Giant/La Sieur frozen and shelf-stable vegetable product lines in Canada

Earlier this year, B&G picked up bankrupt canned food maker Del Monte Foods’ broth and stock business in a deal worth $110 million. The acquisition will expand B&G’s shelf-stable food portfolio with iconic pantry names such as College Inn and Kitchen Basics.

B&G’s eclectic portfolio of 50-plus brands includes supermarket staples Cream of Wheat, Crisco, Dash, Ortega, Maple Grove Farms, New York Flatbreads, McCann’s Irish Oatmeal, Molly McButter, Polaner and Skinnygirl.

B&G intends to use proceeds from the latest Seneca deal for general corporate purposes, such as repaying long-term debt and purchasing “assets useful” in its food business.

Reunited at last

In a statement, B&G President and CEO Casey Keller described the sale of the Green Giant U.S. frozen vegetables unit as another milestone in our ongoing effort to divest brands and product lines that are non-core to B&G Foods’ long-term strategy, sharpen our focus and reduce long-term debt.”

“Moreover, we believe that reuniting the Green Giant U.S. frozen product line with the Green Giant U.S. shelf-stable product line under the ownership of Seneca Foods, one of the largest processors of fruits and vegetables in the United States, is an important next step for the future of the Green Giant brand and is in the best interests of the millions of consumers who know and love the iconic Green Giant brand,” he added.

[W]e believe that reuniting the Green Giant U.S. frozen product line with the Green Giant U.S. shelf-stable product line under the ownership of Seneca Foods … is an important next step for the future of the Green Giant brand …
– Casey Keller, B&G Foods president and CEO

At Seneca Foods, President and CEO Paul Palmby said the upstate New York-headquartered supplier of branded and private-label packaged fruit and vegetables is excited to bring Green Giant’s U.S. frozen business into its portfolio.

“This acquisition significantly enhances our frozen capabilities and expands our reach in the frozen category. We are also thrilled to have the employees from the Yuma, AZ facility join the company and look forward to working with these talented people to continue to drive innovation to support the business,” he stated.

“With this acquisition, the iconic Green Giant shelf-stable and frozen businesses are back together. We also very much look forward to growing the frozen franchise in a category that continues to expand and building on the positive momentum we’ve experienced in Green Giant shelf-stable business,” Palmby added.