B&G Foods sells Le Sueur brand to SC processor

New-Jersey based B&G Foods has sold its Le Sueur brand of premium sweet peas, green beans and carrots to McCall Farms, located in Effingham, South Carolina.

B&G Foods will use the proceeds for repayment of long-term debt and the purchase of business assets, according to a news release.

“Our sale of the Le Sueur brand represents continued progress in our ongoing efforts to reshape our portfolio, sharpen focus on our core brands and reduce long-term debt,” Casey Keller, president and CEO of B&G Foods, said in the release. “The Le Sueur brand has performed very well for us over the years, and we believe it will continue to thrive under the ownership of McCall Farms.”

Founded in 1838, McCall Farms has grown into a one million-square-foot canning operation growing crops on 2,000 acres, with nine national brands and 235 products.

The terms of the transaction, which does not include the Le Sieur brand in Canada, were not disclosed.

Barclays Capital and Deutsche Bank Securities acted as financial advisors to B&G Foods.

B&G Foods’ portfolio includes B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Green Giant, Las Palmas, Mama Mary’s, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands and Victoria.