B&G Foods Sells Le Sueur Brand To McCall Farms To Refocus Portfolio And Cut Debt

(RTTNews) - B&G Foods, Inc. (BGS) has sold its Le Sueur brand—known for premium canned peas, green beans, and carrots, to McCall Farms, Inc., as part of its strategy to streamline its portfolio and reduce long-term debt.

CEO Casey Keller said the divestiture supports the company's focus on core brands and financial health, adding that Le Sueur performed well under B&G and is expected to continue thriving with McCall Farms.

Proceeds from the sale will be used for corporate purposes, including debt repayment, asset acquisitions, and transaction-related costs. The deal excludes rights to the Le Sieur brand in Canada. Financial advisors for B&G Foods included Barclays Capital Inc. and Deutsche Bank Securities Inc. Terms of the transaction were not disclosed.

Friday, BGS closed at $4.14, up 0.98%, and is currently trading at $4.16 in after-hours, up 0.48% on the NYSE.