Victor Ma

Victor Ma inquired about B&G Foods' expected balance sheet leverage position following the completion of the Green Giant Canada sale and the College Inn and Kitchen Basics acquisition.

Answer

Bruce Wacha, EVP of Finance and CFO, stated that the company is on track to reduce net leverage to approximately 6x by mid-summer, moving towards a long-term target of 4.5x-5.5x. He highlighted that the net effect of these transactions is expected to reduce leverage by about 50 basis points, as profitable acquisitions are funded by divestitures of less profitable assets.

Victor Ma inquired about B&G Foods' balance sheet and the expected leverage ratio after the completion of the Green Giant Canada sale and the College Inn acquisition.

Answer

Bruce Wacha, EVP of Finance and CFO, B&G Foods, stated that the company is on track to approach 6x net leverage by mid-summer, moving towards a long-term target of 4.5-5.5x. He highlighted that the Green Giant divestitures, while not generating EBITDA, provide proceeds to fund the profitable College Inn acquisition, which is expected to reduce overall leverage by approximately 50 basis points.