B&G Foods Acquires Growers Express' Frozen Vegetable Manufacturing Operations; Casey Keller, Mark Dendle, and Kirk Wagner Discuss
PARSIPPANY, NJ - With supply chain issues and inflation continuing to impact the cost of products industry-wide, B&G Foods has announced it will be acquiring the frozen vegetable manufacturing operations of Growers Express to reduce supply chain risk and costs for certain Green Giant® frozen products.
“By increasing the variety and volume of Green Giant frozen vegetable products produced at internal manufacturing facilities, we expect to reduce inefficiencies, reduce costs, and reduce supply chain risk for certain Green Giant frozen products. We also believe that this acquisition will enhance our innovation efforts for the Green Giant brand and improve our speed to market for new innovation,” stated Casey Keller, President and Chief Executive Officer of B&G Foods. “Growers Express has been an important partner of B&G Foods for a number of years and we thank them for their partnership.”
Purchase assets through the deal include inventory, equipment, a sublease for a portion of a manufacturing facility in Yuma, Arizona, and a lease for a warehouse facility in San Luis, Arizona, a press release stated. As part of the acquisition, approximately 155 employees will transfer to B&G Foods as well.
B&G Foods has also repurchased the master license agreement for certain Green Giant™ Fresh vegetable products and will assume responsibility for the administration of related sublicense agreements.
“We are extremely thankful for all the Team Members who developed one of the largest riced and spiralized frozen vegetable production facilities globally,” said Mark Dendle, Chief Executive Officer, and Kirk Wagner, Chief Operating Officer of Growers Express, in a joint statement. “Our blue-ribbon Team has collaborated with B&G Foods on product innovation and quality since 2016, benefitting from the strategic position of our facilities and delivering to the highest quality and food safety standards.”
The terms of the transaction were not disclosed.
How will this acquisition parlay into a stronger supply chain for B&G Foods? Stick with AndNowUKnow for updates.