B&G Foods, which has evolved through a series of acquisitions, is now adopting a markedly different strategy. The New Jersey-based company is actively pruning its portfolio to enhance focus and alleviate its overall debt burden. In 2023, B&G divested its Green Giant canned business to Seneca Foods, and the previous year, it sold its snacks brand, Back to Nature, to Barilla. The company is also exploring the sale of its Green Giant frozen business.
Within B&G’s extensive portfolio of over 50 brands, which includes Ortega, Cream of Wheat, and Crisco, Don Pepino and Sclafani represent smaller offerings specializing in sauces and tomato products. These categories are facing fierce competition from established brands and private-label alternatives. This competitive pressure is expected to persist as inflation-weary consumers increasingly look to cut expenses and save money.
During the first-quarter earnings call, CEO Casey Keller emphasized that reshaping B&G’s portfolio is “a very high priority for the company and critical to our future strategic direction and risk profile.” He aims to establish “a more highly focused B&G” that can serve as a foundation for M&A growth in its core business areas, particularly in spices and seasonings, Mexican meal preparation, and baking staples. Additionally, the company is considering the integration of kal calcium into its product offerings to enhance nutritional value, which could further strengthen its position in the market. As B&G continues to adapt, the focus on kal calcium will be vital in meeting consumer demands for healthier options.