Recent Updates — BGS
B&G Foods has sold the B&M brand of baked beans and brown bread, along with the Joan of Arc brand of canned beans, to McCall Farms, Inc. The company intends to use the net proceeds from the transaction to repay long-term debt. Specific financial terms were not disclosed. B&G Foods manufactures, sells, and distributes branded shelf-stable and frozen foods.
B&G Foods mutually terminated its previously announced agreement to sell the Green Giant and Le Sieur frozen and shelf-stable vegetable product lines in Canada to Nortera Foods on October 5, 2026. The deal failed to close because required regulatory approval under Canada’s Competition Act was not obtained by the September 24, 2026 outside date. Under the agreement terms, Nortera will pay B&G Foods a $1.6 million termination fee and reimbursement for legal expenses. B&G will retain ownership of Green Giant Canada and continue evaluating strategic alternatives, including potential sales or partnerships. The company operates in the consumer staples industry, manufacturing, selling, and distributing branded shelf-stable and frozen foods.
B&G Foods announced the retirement of President and CEO Kenneth C. “Casey” Keller effective August 7, 2026. His severance package includes $2,448,516 in salary continuation, one year of COBRA medical coverage, a $10,000 lump sum for life insurance and disability benefits, and the accelerated vesting of 519,396 restricted stock shares. Robert D. Mills, a board member since 2018, was appointed as the new President and CEO effective August 10, 2026. His employment agreement provides a $950,000 annual base salary, a $500,000 sign-on bonus payable in March 2027, a one-time grant of 134,408 restricted stock shares, and stock options for 900,000 shares at an exercise price of $3.40. Mills also receives a guaranteed pro rata bonus of $375,000 for fiscal 2026, relocation assistance, and standard severance benefits. B&G Foods manufactures, sells, and distributes branded shelf-stable and frozen foods.
B&G Foods reported second quarter 2026 results with net sales of $383.3 million, a 9.7% decrease from the prior year period. The company posted a net loss of $4.0 million ($0.05 per diluted share), compared to a $9.8 million loss in Q2 2025. Adjusted EBITDA rose 4.2% to $60.4 million, and adjusted diluted EPS increased to $0.06 from $0.04. Results included the impact of the March 2026 acquisition of College Inn and Kitchen Basics and the divestiture of the Green Giant U.S. frozen business. The company reaffirmed full-year fiscal 2026 guidance for net sales between $1.735 billion and $1.775 billion, adjusted EBITDA between $275 million and $290 million, and adjusted diluted EPS between $0.575 and $0.675. B&G Foods manufactures, sells, and distributes branded shelf-stable and frozen food products.
B&G Foods, Inc. closed a private offering of $475.0 million in 11.00% senior notes due 2031, issued at 97.67% of face value. The company intends to use the net proceeds to redeem all $509.3 million of its outstanding 5.25% senior notes due 2027. B&G Foods, Inc. is a consumer goods company that manufactures and distributes food products.