B&G Foods sells Green Giant to pay down debt

By William Gullotti

Buffalo, N.Y., Nov. 8 – B&G Foods, Inc. sold its Green Giant shelf-stable vegetable product line to Seneca Foods Corp. but retained ownership of the trademarks, according to a Wednesday press release.

The sale did not include Green Giant frozen, Green Giant Canada or the Le Sueur brands.

Although the transaction terms were not disclosed, B&G intends to use the net proceeds from the sale for the repayment of long-term debt.

B&G Foods is a Parsippany, N.J.-based branded foods holding company.

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