SENEA News & Events

B&G Foods (BGS) announced that it has sold its Green Giant U.S. frozen vegetable product line to Seneca Foods (SENEA). B&G Foods previously sold the Green Giant U.S. shelf-stable vegetable product line to Seneca Foods in November 2023 and the Le Sueur U.S. shelf-stable vegetable product line to McCall Farms in August 2025. In addition, in October 2025, B&G Foods entered into an agreement to sell the Green Giant and Le Sieur frozen and shelf-stable vegetable product lines in Canada to Nortera Foods. B&G Foods expects that sale to close during the second quarter of 2026, subject to regulatory approval in Canada and the satisfaction of customary closing conditions. The sale, which is effective immediately, includes B&G Foods' frozen vegetable manufacturing operations in Yuma, Arizona. B&G Foods will maintain its frozen vegetable manufacturing operations in Irapuato, Mexico and has entered into a co-pack agreement with Seneca Foods pursuant to which B&G Foods will continue to produce certain Green Giant frozen products for Seneca Foods. B&G Foods intends to use the proceeds from the sale for general corporate purposes, including the repayment of long-term debt and the purchase of assets useful in B&G Foods' business, and to pay taxes, fees and expenses related to the sale. The terms of the transaction were not disclosed. Barclays Capital Inc. and Deutsche Bank Securities Inc. acted as financial advisors to B&G Foods.

Seneca Foods (SENEA) has purchased the Green Giant U.S. frozen business from B&G Foods (BGS). In connection with the transaction, the Company has acquired the Green Giant brand and associated intellectual property; Green Giant U.S. frozen inventory; and frozen vegetable manufacturing operations in Yuma, AZ. In addition, the Company has entered into a Supply Agreement for certain Green Giant frozen products produced in Irapuato, Mexico by B&G Foods. This transaction follows the Company's acquisition of the Green Giant U.S. shelf-stable vegetable product line from B&G Foods in November 2023.

Reports Q4 revenue $508.348M vs $502.856M last year. "The third quarter delivered record sales and near-record FIFO profitability, driven by an excellent holiday selling season and more normalized costs following a poor 2024 harvest season," stated Paul Palmby, President and Chief Executive Officer of Seneca Foods Corporation. "Strong operating results and necessary reductions in working capital have driven robust cash flow and continued decreases in net debt."

Reports Q2 revenue $460.02M vs. $425.47M last year. "We are very pleased with our unit volumes and net sales for the quarter, up 10.2% and 8.1%, respectively. We are also enjoying a near budget harvest for most crops this year, a welcome change from last year's poor crop, and delivering more normalized costs and inventory levels in order to support customer demand," stated Paul Palmby, President and Chief Executive Officer of Seneca Foods Corporation. "Net earnings were better than we had budgeted but FIFO gross margin was slightly lower than last year, reflecting continued sell-through of the higher cost 2024 inventory."