B&G Foods sells Green Giant frozen line

Group 1 - Seneca Foods has acquired B&G Foods' Green Giant U.S. frozen vegetable line, reuniting the frozen and canned businesses after a split three years ago [3][8] - The acquisition is expected to enhance Seneca's purchasing power for produce, improve marketing efforts for Green Giant, and foster innovation [4] - B&G Foods has been divesting noncore assets to focus on its core business and reduce debt, with the sale of the Green Giant frozen business marking a significant step in this strategy [5][6] Group 2 - B&G Foods plans to use the proceeds from the sale to reduce debt or pursue further acquisitions [8] - The deal includes B&G's vegetable manufacturing operations in Yuma, Arizona, and a co-packing agreement will allow B&G to continue producing certain Green Giant frozen products [8] - B&G previously sold the Green Giant U.S. shelf-stable vegetable business to Seneca in November 2023, indicating a strategic shift towards streamlining operations [8]