B&G Foods and Nortera Announce Termination of Green Giant Canada Asset Purchase Agreement

Robert D. Mills, President and Chief Executive Officer of B&G Foods

“Although we are disappointed that the transaction was not completed before the outside date, we remain highly confident in Green Giant Canada’s future. Green Giant is the number one brand in both frozen and shelf-stable vegetables in Canada, with strong consumer loyalty, longstanding customer relationships and, we believe, significant opportunities for growth and margin improvement”

Robert D. Mills, President and Chief Executive Officer of B&G Foods

“We look forward to continuing to serve Green Giant Canada’s customers and consumers while pursuing initiatives to enhance profitability and unlock value. We intend to continue evaluating strategic and operational alternatives for Green Giant Canada, including potential sale transactions, strategic partnerships or other opportunities that may maximize value for shareholders.”

Erwan Hédiard, Interim Chief Executive Officer and Chief Financial Officer of Nortera

“While this transaction will not move forward, Nortera remains fully committed to vegetable production and processing in Canada and to the long-term strength of our industry. We are proud of our longstanding relationship with B&G Foods and of our strategic partnership in the production of Green Giant in Canada. We would also like to thank the teams at both organizations for their commitment and professionalism throughout this process.”