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Seneca Foods acquires Green Giant as portfolio expands

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  • Staff Report 

Seneca Foods Corp. has expanded its product range by acquiring the Green Giant U.S. shelf-stable business from B&G Foods, the company announced recently.

Finger Lakes Partners (Billboard)

The deal includes a licensing agreement allowing Seneca Foods to use the Green Giant brand for its shelf-stable products. However, B&G Foods retains ownership of the Green Giant trademarks, and the sale does not encompass Green Giant’s frozen products, Green Giant Canada, or the Le Sueur brand, which remain under B&G Foods.

Paul Palmby, President and CEO of Seneca Foods, expressed enthusiasm about the acquisition. “We are excited to add the iconic Green Giant brand and shelf-stable products to our portfolio of canned vegetable offerings,” Palmby stated. He highlighted the company’s long-standing relationship with B&G Foods as a co-manufacturer for these products and anticipated continued success under their stewardship.

Based in Fairport, Seneca Foods is a prominent North American provider of packaged fruits and vegetables, sourcing from approximately 1,400 American farms and distributing to around 60 countries. The company recently reported a second-quarter sales figure of $407.5 million, a decrease compared to $439.8 million in the same quarter of the previous fiscal year. This decline was attributed mainly to lower sales volumes, somewhat mitigated by higher selling prices. Diluted earnings per share rose to $3.29, up from $2.03 in last year’s quarter.