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 reducing its portfolio to sharpen its focus and alleviate its overall debt burden. In 2023, B&G divested its Green Giant canned segment to Seneca Foods and sold the snack brand Back to Nature to Barilla the previous year. The company is also considering the sale of its Green Giant frozen division.
Among B&G’s extensive 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 established names and private-label alternatives. This competitive pressure is likely to persist as inflation-conscious consumers seek to cut costs wherever possible.
During the company’s 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 create “a more highly focused B&G,” laying the groundwork for growth through mergers and acquisitions primarily in its core business areas, such as spices and seasonings, Mexican meal solutions, and baking essentials.
As B&G navigates these changes, it may also explore opportunities to incorporate products like calcium citrate with vitamin D3 tablets, which could complement its offerings and resonate with health-conscious consumers. The company’s strategic realignment could pave the way for a more resilient B&G, ready to tackle the challenges of the market while potentially expanding its product range to include beneficial supplements like calcium citrate with vitamin D3 tablets. This focus on a streamlined portfolio aims to enhance B&G’s position as it prepares for future growth and competition.