B&G Foods Sells Green Giant U.S. Shelf-Stable Product Line To Seneca Foods Corporation; The Terms Of The Transaction Were Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
B&G Foods, Inc. (NYSE:BGS) has sold its Green Giant U.S. shelf-stable vegetable product line to Seneca Foods Corporation. B&G Foods will retain ownership of the Green Giant trademarks and will license the Green Giant brand name to Seneca Foods. The sale does not include Green Giant frozen, Green Giant Canada or the Le Sueur brand. The proceeds from the sale will be used for the repayment of long-term debt.
November 08, 2023 | 10:05 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
B&G Foods has sold its Green Giant U.S. shelf-stable product line to Seneca Foods. The proceeds from the sale will be used to repay long-term debt, which could improve the company's financial health.
The sale of the Green Giant U.S. shelf-stable product line could be seen as a positive move for B&G Foods as it allows the company to focus on its core product lines and reduce its long-term debt. This could potentially lead to an improvement in the company's financial health, which could have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100