India, Aug. 1 -- B&G Foods, Inc. (BGS) has sold its Le Sueur brand-known for premium canned peas, green beans, and carrots, to McCall Farms, Inc., as part of its strategy to streamline its portfolio and reduce long-term debt.
CEO Casey Keller said the divestiture supports the company's focus on core brands and financial health, adding that Le Sueur performed well under B&G and is expected to continue thriving with McCall Farms.
Proceeds from the sale will be used for corporate purposes, including debt repayment, asset acquisitions, and transaction-related costs. The deal excludes rights to the Le Sieur brand in Canada. Financial advisors for B&G Foods included Barclays Capital Inc. and Deutsche Bank Securities Inc. Terms of the transactio...