B&G Foods, Nortera Foods Terminate Green Giant Canada Sale over Regulatory Timing
Dow Jones
Oct 06
B&G Foods and Nortera Foods have called off their deal for Nortera to buy Green Giant Canada after failing to secure regulatory approval in time.
The transaction, originally struck in October of last year, was terminated on Monday after missing a key Sept. 24 date to receive Canadian regulatory approval to sell the frozen and shelf-stable vegetable brand.
As a result of the termination, B&G Foods said Tuesday that it will continue to own and operate Green Giant Canada and focus on executing its strategic and operating plans, while Nortera will continue to serve as the primary co-manufacturer.
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