Karru Martinson

Robert Moskow

David Palmer

Hale Holden

Michael Lavery

William Reuter

Andrew Lazar

Carla Casella

Scott Marks

Robert Dickerson

Robert Rigby

- B&G Foods is actively transforming its portfolio by divesting non-core assets, including the remaining **Green Giant** businesses (US Frozen and Canadian), which are in advanced discussions for potential **2025** transactions.  **[1278027_tx_377889_1]**  The company aims to focus on **spices and seasonings, meals, and baking staples**.  **[1278027_tx_377889_1]** 
- The company reported sequential improvement in sales, with Q1 down **9%**, Q2 down **4%**, and the first two months of Q3 down between **1% and 2%**.  **[1278027_tx_377889_1]**  Management expects organic sales to be down low single-digits in the back half of FY 2025, with a **53rd week** in Q4 contributing to flat or positive performance.  **[1278027_tx_377889_8]** **[1278027_tx_377889_9]** 
- B&G Foods plans to reduce its net debt to EBITDA from nearly **7x** to approximately **6x** within the next **12 months**.  **[1278027_tx_377889_6]** **[1278027_tx_377889_7]**  This deleveraging is expected to come from the Green Giant divestiture (**half a turn**), improved business performance (**one-third of a turn**), and excess cash/working capital optimization (**one-tenth to two-tenths of a turn**).  **[1278027_tx_377889_7]** 
- The long-term financial algorithm for the remaining portfolio (spices, seasonings, meals, and baking staples) is to achieve **1% top-line growth** and **2% bottom-line growth**.  **[1278027_tx_377889_6]**

B&G Foods Outlines Strategy for Portfolio Transformation and Debt Reduction

B&G Foods (BGS)