B&G Foods, Inc. has announced the sale of its Don Pepino and Sclafani brands to Violet Foods LLC, a portfolio company of Amphora Equity Partners LLC. The transaction includes the manufacturing facility in Williamstown, New Jersey, where these products are produced. This divestiture aligns with B&G Foods' strategic initiative to focus on its core brands and reduce long-term debt. The net proceeds from the sale will be used for debt repayment. BofA Securities, Inc. served as the financial advisor for this transaction.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.