B&G Foods sells more assets as looks to simplify the portfolio (BGS:NYSE)

B&G Foods (BGS) canceled the sale of its Green Giant business in Canada due to antitrust concerns raised by regulators. The deal, announced last October with Nortera Foods, was terminated after Canada's Competition Bureau sought to block it, citing potential higher prices and reduced competition. B&G will explore other options for the business.

Nortera has withdrawn its bid to acquire B&G Foods' Green Giant and Le Sieur brands in Canada. The Competition Bureau raised concerns, stating the deal would reduce competition and increase prices. Nortera is the dominant processor of canned and frozen vegetables in Canada and has been the exclusive producer of these brands for 30 years. B&G Foods will retain ownership, and Nortera will continue as the main co-manufacturer.

Canada's Competition Bureau is challenging Nortera Foods' acquisition of Green Giant and Le Sieur brands from B&G Foods, citing concerns over higher prices and reduced selection. Nortera argues the deal will strengthen Canadian food production. The Competition Tribunal will decide on the matter.

Canada's Competition Bureau seeks to block B&G Foods' sale of Green Giant and Le Sieur veg brands to Nortera, citing reduced competition. The bureau argues the deal would lead to higher prices and fewer choices. B&G and Nortera plan to contest the decision. B&G is selling assets to reduce debt. According to the bureau, Nortera is Canada's dominant processor of certain canned and frozen vegetables.

B&G Foods (BGS) reported Q2 2026 net sales of $383.3M, down 9.7% YoY due to divestitures. Adjusted EBITDA rose 4.2% to $60.4M. Net loss narrowed to $4M. Guidance for fiscal 2026 net sales, EBITDA, and EPS was reaffirmed. Management highlighted portfolio reshaping, debt refinancing, and new CEO transition. Risks include inflation, tariffs, and geopolitical tensions.

B&G Foods (BGS) reported Q2 revenue of $383.3M, down 9.7% year over year and below analysts’ $397.3M estimate. Adjusted EPS of $0.06 matched expectations; adjusted EBITDA was $60.39M, slightly above estimates. Management reconfirmed FY revenue guidance of $1.76B and Adjusted EPS of $0.63, citing divestitures and branded retail headwinds.