B&G Foods, which has expanded through numerous acquisitions, is now adopting a markedly different strategy. The New Jersey-based company is actively working to streamline its portfolio and decrease its overall debt. In 2023, B&G sold its Green Giant canned business to Seneca Foods and offloaded the snack brand Back to Nature to Barilla the previous year. Additionally, the company is exploring the sale of its Green Giant frozen division.
Among B&G’s diverse portfolio of over 50 brands— which includes Ortega, Cream of Wheat, and Crisco—Don Pepino and Sclafani represent smaller segments. These brands specialize in sauces and tomato products, which face intense competition from well-known brands and private-label products. This competitive pressure is expected to persist, especially as inflation-conscious consumers are becoming more frugal and seeking to save money where possible.
During a recent earnings call for the first quarter, 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.” Keller stated his intention to create “a more highly focused B&G” that can serve as a foundation for mergers and acquisitions in its core business areas, particularly in spices and seasonings, Mexican meal preparation, and baking staples. Among these core offerings, the market for calcium citrate cheese sauce is also an area of interest, as the company aims to enhance its product line and better meet consumer demands. Overall, B&G is committed to refining its focus and exploring opportunities that can contribute to its growth and sustainability.