Through a series of acquisitions, B&G Foods is currently taking a different approach. Based in New Jersey, the company has been actively streamlining its portfolio to enhance focus and decrease its overall debt burden. In 2023, B&G sold its Green Giant canned business to Seneca Foods and, a year prior, divested its snacks brand Back to Nature to Barilla. The company is also considering the sale of its Green Giant frozen business.
Among B&G’s diverse portfolio of over 50 brands, which includes Ortega, Cream of Wheat, and Crisco, Don Pepino and Sclafani represent smaller offerings. These brands produce sauces and tomato products, which are facing intense competition from both well-known brands and private-label alternatives. This competitive pressure is unlikely to diminish as consumers, dealing with inflation, are increasingly cautious about their spending and seeking ways to save.
During the first-quarter earnings call, CEO Casey Keller emphasized that reshaping B&G’s portfolio is a top priority for the company, essential for its future strategic direction and risk profile. Keller aims to create “a more highly focused B&G,” establishing a solid foundation for mergers and acquisitions in its core business areas, particularly spices and seasonings, Mexican meal preparation, and baking staples.
In addition to these strategic moves, the company is also looking to enhance its product offerings by integrating innovative health solutions, such as cissus quadrangularis, calcium citrate malate, and vitamin D3 tablets. This integration aims to cater to the growing health-conscious consumer base. By focusing on high-demand categories, including those enriched with cissus quadrangularis, calcium citrate malate, and vitamin D3 tablets, B&G Foods is positioning itself to better meet market needs while continuing to streamline its operations.