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Diving Briefs:
- B & G food sales two CRISCO owners are one of the tomato brands for private equity companies to offer a part of the portfolio and reduce debt.
- Violet Foods, a portfolio company at the newly formed Amphora Equity Partners, will acquire B & G’s Don Pepino and Sclafani brands. Don Pepino is famous for making sources used in pizza stores across the east coast, and Sclafani is famous for its tomatoes, tomato puree and peeled tomatoes.
- This sale includes manufacturing facilities in Williams Town, New Jersey. The financial details of the transaction were not disclosed.
Dive Insights:
B & G Foods, built through a series of arguments, has a much different approach these days. The New Jersey company actively reduced its portfolio, simplified the focus, and reduced the overall debt load.
B&G Green Giant Canned Business was sold to Seneca Foods Snack brand in 2023 Returns to nature To Barilla a year ago. There is also a company I am trying to sell the green giant frozen business..
Don Pepino and Sclafani are small in B & G portfolios of over 50 brands including Ortega, Cream of Wheat and CRISCO. Don Pepino and Sclafani make sauce and tomato products. This headwind will not be reduced for inflation wear consumers to reduce spending and save money when possible.
Among the company’s 1Q income phone callCasey Keller CEO said that the reconstruction of B & G’s portfolio is “a very high priority and is important for future strategic directions and risk profiles.” His goal includes creating a “more concentrated B & G” that can be the basis for M & A growth of core business lines, mainly spices and seasonings, Mexican meals, and M & A growth of baking staples.
