B&G Foods, Inc. has announced the termination of its agreement to sell the Green Giant and Le Sieur frozen and shelf-stable vegetable product lines in Canada to Nortera Foods. The asset purchase agreement, originally entered into on October 24, 2025, was mutually terminated on October 5, 2026.
The agreement stipulated that either party could terminate the deal if regulatory approval under Canada’s Competition Act was not obtained by an outside date of September 24, 2026. Despite cooperative efforts to secure the required approval, the deadline was not met, and the conditions to closing the transaction were not satisfied.
As a result of the termination, B&G Foods will retain ownership of Green Giant Canada and continue to operate the business. The company stated it will focus on executing its strategic and operating plans. Nortera Foods will continue to serve as the primary co-manufacturer for the Canadian operations.
Under the terms of the terminated agreement, Nortera Foods will pay B&G Foods $1.6 million. This payment consists of a contractually required termination fee and reimbursement for a portion of B&G Foods’ legal expenses.
B&G Foods indicated it intends to continue evaluating strategic and operational alternatives for Green Giant Canada. These alternatives include potential sale transactions, strategic partnerships, or other opportunities aimed at maximizing value for shareholders.
