The basics:

• B&G Foods divests Green Giant, Le Sieur brands in Canada
• Sale to longtime co-manufacturer Nortera Foods pending regulatory approval
• Proceeds will help B&G reduce long-term debt
• Nortera aims to expand and innovate with iconic Canadian vegetable brands

Parsippany-based consumer-packaged goods giant B&G Foods Inc. is selling off its Green Giant and Le Sieur frozen and shelf-stable vegetable product lines in Canada.

B&G did not disclose terms of the deal with longtime co-manufacturer Nortera Foods in an Oct. 27 press release. The company said it will use proceeds to repay long-term debt.

According to B&G, it expects to complete the acquisition by the first quarter of next year, subject to regulatory approval in Canada.

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; Le Sueur’s U.S. shelf-stable vegetable unit; and Green Giant’s U.S. canned business. The company recently sold its Don Pepino pizza sauce brand and Sclafani canned tomato brand.

B&G said it continues to explore sale options for its Green Giant U.S. frozen vegetable line.

Another milestone

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

As of 2024, B&G Foods had net sales of $1.9 billion.

In a statement, B&G president and CEO Casey Keller said, “Our decision to sell the Green Giant and Le Sieur brands in Canada is 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. Green Giant is a well-recognized and trusted brand in Canada. We believe that Nortera Foods, the long-time, primary co-manufacturer for the brand in Canada, is well-positioned to drive continued success for Green Giant in Canada.”

Headquartered in Quebec, Nortera has been the exclusive manufacturer of Green Giant and Le Sieur in Canada for three decades.

In a separate press release, the Canadian vegetable processor said the acquisition will complement its existing portfolio of brands, such as Arctic Gardens and Del Monte.

Across its 13 plants in Canada and the U.S., Nortera processes more than 440,000 tons of vegetables annually and employs over 3,000 workers.

Commenting on the deal, company CEO Hugo Boisvert said, “Nortera remains steadfast in delivering high-quality canned and frozen vegetables that Canadians love and trust. With decades of expertise as the trusted manufacturing partner behind the Green Giant and Le Sieur brands in Canada, this acquisition ensures that these iconic brands, long produced in Canada, are now also locally owned.”

“The acquisition marks a strategic milestone, positioning Nortera to innovate and diversify in the increasingly competitive Canadian food marketplace, while continuing to make the benefits of vegetables accessible to as many Canadians as possible,” he added.