B&G Foods Inc. announced it has entered into an agreement to sell the Back to Nature brand to Barilla America. The terms of the transaction were not disclosed.
“Our decision to sell Back to Nature is part of a broader effort at B&G Foods to focus our portfolio on businesses that are core to our long-term strategy as we transition to a business unit structure,” Casey Keller, president and chief executive officer of B&G Foods, said in the announcement. “The divestiture will also allow us to reduce long-term debt, while providing Barilla America with a great brand.”
B&G Foods expects the sale to close in the first quarter of 2023, subject to the satisfaction of customary closing conditions. B&G Foods intends to use the net proceeds from the sale for the repayment of long-term debt.
Back to Nature products include cookies, crackers, nuts and trail mixes and granola. The Back to Nature brand’s product offerings include non‑GMO Project Verified, organic and gluten-free products that are plant-based snacks.