B&G Foods, Inc. (NYSE: BGS) completed the sale of its Green Giant U.S. frozen vegetable product line to Seneca Foods Corporation on March 2 2026. The transaction transfers B&G’s frozen‑vegetable manufacturing operations in Yuma, Arizona, to Seneca and establishes a co‑pack agreement that allows B&G to continue producing certain Green Giant frozen products for its new owner.
The divestiture is part of B&G’s broader strategy to shed non‑core brands, reduce long‑term debt, and sharpen focus on its higher‑growth, higher‑margin segments such as spices, Mexican meal‑prep, and baking staples. Management said the proceeds will be used for general corporate purposes, including debt repayment and the acquisition of assets that support the company’s core businesses. B&G’s debt load stood at $2.04 billion with a net debt‑to‑EBITDA ratio of 7.8×, and the company aims to bring that ratio down to roughly 5×.
B&G has already sold the Green Giant U.S. shelf‑stable vegetable business to Seneca in November 2023 and the Le Sueur U.S. shelf‑stable line to McCall Farms in August 2025. In October 2025, B&G announced plans to sell the Green Giant and Le Sieur frozen and shelf‑stable lines in Canada to Nortera Foods, with an expected closing in the second quarter of 2026. The current sale is the final U.S. divestiture of the Green Giant brand, bringing the frozen and shelf‑stable businesses back under a single owner.
Seneca Foods welcomed the acquisition, noting that it significantly enhances its frozen capabilities and expands its reach in the frozen category. The company reported strong Q3 fiscal‑year 2025 results, with sales growth and margin improvement, underscoring the strategic fit of the Green Giant assets. The Yuma, AZ facility will continue to operate under Seneca’s ownership, and Seneca’s president and CEO Paul Palmby said, “We are also thrilled to have the employees from the Yuma, AZ facility join the company and look forward to working with these talented people to continue to drive innovation to support the business. With this acquisition, the iconic Green Giant shelf‑stable and frozen businesses are back together. We also very much look forward to growing the frozen franchise in a category that continues to expand and building on the positive momentum we've experienced in Green Giant shelf‑stable business.”
B&G’s president and CEO Casey Keller emphasized the strategic intent behind the sale, stating, “Today's sale of Green Giant U.S frozen represents another milestone in our ongoing effort to divest brands and product lines that are non‑core to B&G Foods' long‑term strategy, sharpen our focus and reduce long‑term debt.” He added, “Moreover, we believe that reuniting the Green Giant U.S frozen product line with the Green Giant U.S shelf‑stable product line under the ownership of Seneca Foods, one of the largest processors of fruits and vegetables in the United States, is an important next step for the future of the Green Giant brand and is in the best interests of the millions of consumers who know and love the iconic Green Giant brand.”
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