Through a series of acquisitions, B&G Foods is now pursuing a markedly different strategy. The New Jersey-based company has been actively reducing its portfolio to sharpen its focus and alleviate its overall debt burden. In 2023, B&G sold its Green Giant canned business to Seneca Foods, and the previous year, it divested the snacks brand Back to Nature to Barilla. Additionally, the company is considering the sale of its Green Giant frozen business.
Among the more than 50 brands in B&G’s portfolio, which includes Ortega, Cream of Wheat, and Crisco, the Don Pepino and Sclafani brands offer sauces and tomato products. These categories face intense competition from well-known brands and private-label alternatives, a challenge that is unlikely to diminish as inflation-conscious consumers cut back on spending and seek to save money whenever possible.
During the first-quarter earnings call, CEO Casey Keller emphasized that reshaping B&G’s portfolio is a top priority for the company and crucial for its future strategic direction. He highlighted the goal of creating “a more highly focused B&G,” which would serve as a foundation for M&A growth in its core business areas, particularly spices and seasonings, Mexican meal preparation, and baking staples.
In this context, it’s worth noting the importance of products like levothyroxine and calcium citrate, which reflect B&G’s commitment to health-conscious offerings that cater to evolving consumer preferences. As the company moves forward, integrating such health-oriented products may help bolster its positioning in the competitive landscape.