Reorganization
In October 2004, B&G Foods Holdings Corp. became B&G Foods, Inc. having merged its then-subsidiary B&G Foods into the parent company.[1] In 2007, the company began trading on the New York Stock Exchange with ticker symbol "BGS".[2]
The company acquired Grandma's Molasses from Mott’s Company in 2006[13] and Cream of Wheat from Kraft Foods in 2007.[5] In 2010 it acquired the brands of Violet Packing including Sclafani and Don Pepino tomato products.[14] This was followed a year later by its 2011 acquisition of the Culver Specialty Brands division from Unilever for US$325 million. The Culver purchase included the Mrs. Dash (rebranded "Dash" in 2020),[1] Molly McButter, Sugar Twin sugar substitute, and Baker's Joy baking spray with flour brands all of which Unilever had acquired when it bought The Alberto Culver Company.[15] The purchase also included the Static Guard, and Kleen Guard brands of furniture polish, B&G's first non-food brands.[16]
B&G acquired snack food brands Old London Foods, with its sub-brands Devonsheer and JJ Flats, and New York Style along with a manufacturing facility in Yadkinville, North Carolina from Chipita America in 2012 for US$62.5 million.[17] In 2013 it acquired Rickland Orchards for US$57 million,[18] the TrueNorth brand of nut snacks from DeMet's Candy Company, and Robert's American Gourmet Food (better known as "Pirate Brands") and its Pirate's Booty, Smart Puffs, and Original Tings snack brands for US$195 million.[19]
In 2014, B&G bought Westbury, New York-based Specialty Brands of America from private equity firm American Capital for US$155 million. Specialty Brands' largest holding was the dry soup, pasta, and rice producer Bear Creek Country Kitchens. The purchase also included the Spring Tree, Cary's, and MacDonald's brands of maple and pancake syrup, New York Flatbreads, and Canoleo margarine.[20] In its largest acquisition at the time, B&G acquired Green Giant and its associated brands Le Sueur and Le Sieur from General Mills in 2015.[5] By the following year, B&G had expanded Green Giant's offerings with 25 new frozen vegetable products.[3] In July 2016, B&G announced it would be moving production of pizza crust producer Mama Mary's, acquired in 2015,[21] from its Spartanburg, South Carolina facilities to consolidate it into B&G's Yadkinville operations.[22]
The spice and seasonings business of ACH Food Companies, a division of Associated British Foods, was acquired in November 2016 for US$365 million. This brought B&G the Spice Islands, Tone's, and Durkee brands of spices and a licensing agreement to produce Weber brand sauces and seasonings. It also included a manufacturing facility in Ankeny, Iowa.[23] Also in 2016, B&G bought pasta and sauce maker Victoria Fine Foods for US$70 million.[24] Back to Nature Foods, along with its Snackwell's brand, was acquired for US$162.5 million in 2017[25] from Mondelez International.[26]
In October 2018, B&G sold Pirate Brands to Hershey for US$420 million in an all-cash deal.[27][28][29]
In May 2019, B&G acquired baking ingredients producer Clabber Girl Corporation for US$80 million from Hulman & Company, owners of INDYCAR and the Indianapolis Motor Speedway.[30] Clabber Girl produces baking powder, baking soda, corn starch, gelatins, and puddings under the Clabber Girl, Rumford, Davis, Hearth Club, and Royal brands.[31] The next year, B&G bought the Crisco brand of cooking oils and shortening along with its manufacturing facility in Cincinnati, Ohio from The J.M. Smucker Company for approximately US$550 million.[32][33] Also in 2020, B&G bought Wellesley, Massachusetts-based frozen vegan foods producer Farmwise Farms with a goal of complementing its existing Green Giant frozen vegetable products.
Kenneth C. "Casey" Keller was appointed B&G's president and CEO in June 2021 replacing interim president and CEO David L. Wenner who remained a board member. Keller had previously held leadership roles at various major foods brands including JDE Peet's, Peet's Coffee, Wrigley Company, Alberto-Culver, and Heinz.[36] Wenner, who had led B&G from 1993 to 2014, took on the interim role following the 2020 resignation of Kenneth Romanzi.[37]
In an effort to reduce costs and improve productivity, the company announced in August 2021 it would sell its Portland, Maine manufacturing facility. The plant had produced B&M products for over 100 years, Underwood products for over 50 years, and other B&G brands following B&M's acquisition. The facility's 86 employees were to be laid off and manufacturing operations moved to third-party and other B&G locations. The sale was expected to close by the end of 2021 with B&G's operational move completed by the first quarter of 2022. Following the sale, the facility would become the home of The Roux Institute at Northeastern University.[38]
