Canada’s Competition Bureau is seeking to block B&G Foods’ (NYSE: BGS) sale of its Green Giant and Le Sieur brands to Nortera Foods. The regulator requested the Competition Tribunal halt the deal to prevent higher consumer prices and reduced choice.
Nortera currently dominates the Canadian canned and frozen vegetable market through its Del Monte and Arctic Gardens brands. The Bureau argues that acquiring its only major national competitor would eliminate significant market competition.
B&G Foods expressed disappointment with the decision and maintains the sale serves all stakeholders' best interests. The company is currently evaluating legal and regulatory alternatives to complete the transaction.