B&G Foods Sells B&M and Joan of Arc Brands to McCall Farms
Key Highlights
- ➤B&G Foods (BGS) sold B&M and Joan of Arc brands to McCall Farms
- ➤Net proceeds will repay B&G Foods’ long-term debt
- ➤Transaction terms were not disclosed
- ➤Sale advances B&G Foods’ portfolio simplification and leverage-reduction strategy
Expert Statements
Robert D. Mills, President and Chief Executive Officer of B&G Foods
“The sale of the B&M and Joan of Arc brands is another step in our efforts to simplify our portfolio, focus on our core brands and strengthen our balance sheet.”
Robert D. Mills, President and Chief Executive Officer of B&G Foods
“We remain focused on taking actions that support profitable growth and reduce leverage.”
Robert D. Mills, President and Chief Executive Officer of B&G Foods
“We believe McCall Farms is the right owner for these brands going forward.”
B&G Foods, Inc. (NYSE: BGS) announced today that it has sold the B&M brand of baked beans and brown bread and the Joan of Arc brand of kidney, chili and other canned beans to McCall Farms, Inc.
“The sale of the B&M and Joan of Arc brands is another step in our efforts to simplify our portfolio, focus on our core brands and strengthen our balance sheet,” said Robert D. Mills, President and Chief Executive Officer of B&G Foods. “We remain focused on taking actions that support profitable growth and reduce leverage. We believe McCall Farms is the right owner for these brands going forward.”
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