B&G Foods, Inc. announced it has sold its B&M and Joan of Arc brands to McCall Farms, Inc. This divestiture is part of the company's ongoing strategy to simplify its portfolio, focus on core brands, and strengthen its balance sheet by reducing leverage. The terms of the transaction were not disclosed.

Key Details

  • Divested Brands: The sale includes the B&M brand (baked beans and brown bread) and the Joan of Arc brand (kidney, chili, and other canned beans).
  • Acquirer: McCall Farms, Inc.
  • Use of Proceeds: B&G Foods intends to use the net proceeds from the sale to repay long-term debt.
  • Transaction Terms: The financial terms of the sale were not publicly disclosed.