
B&G Foods Sells its Don Pepino and Sclafani Brands to Violet Foods, a Portfolio Company of Amphora Equity Partners
PARSIPPANY, N.J.--(BUSINESS WIRE)--B&G Foods, Inc. (NYSE: BGS) announced today that it has sold its Don Pepino and Sclafani brands of pizza and spaghetti sauces, crushed tomatoes, tomato puree and whole peeled tomatoes to Violet Foods LLC, a newly formed portfolio company of Amphora Equity Partners LLC. The sale included the manufacturing facility in Williamstown, New Jersey where the products are produced.
'The divestiture of the Don Pepino and Sclafani brands is consistent with our efforts to reshape our portfolio, focus on our core brands and reduce long-term debt,' said Casey Keller, President and Chief Executive Officer of B&G Foods. 'We believe that Amphora is the right owner to support the future growth of the Don Pepino and Sclafani brands.'
B&G Foods intends to use the net proceeds from the sale for the repayment of long-term debt.
The terms of the transaction were not disclosed. BofA Securities, Inc. acted as financial advisor to B&G Foods.
About B&G Foods, Inc.
Based in Parsippany, New Jersey, B&G Foods and its subsidiaries manufacture, sell and distribute high-quality, branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. With B&G Foods' diverse portfolio of more than 50 brands you know and love, including B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Green Giant, Las Palmas, Le Sueur, Mama Mary's, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands and Victoria, there's a little something for everyone. For more information about B&G Foods and its brands, please visit www.bgfoods.com.
About Amphora Equity Partners
Amphora is a private investor that makes control investments in the North American packaged food and beverage sector. The firm focuses on well-established branded products and contract manufacturing businesses in which it can support management teams to drive real value creation through operational excellence and an organic and inorganic growth strategy.
Forward-Looking Statements
Statements in this press release that are not statements of historical or current fact constitute 'forward-looking statements.' The forward-looking statements contained in this press release include, without limitation, statements related to B&G Foods' use of the net proceeds of the sale to reduce long-term debt. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of B&G Foods to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms 'believes,' 'belief,' 'expects,' 'projects,' 'intends,' 'anticipates,' 'assumes,' 'could,' 'should,' 'estimates,' 'potential,' 'seek,' 'predict,' 'may,' 'will' or 'plans' and similar references to future periods to be uncertain and forward-looking. Factors that may affect actual results include, without limitation: B&G Foods' substantial leverage, which may impact B&G Foods' ability, among other things, to fund capital expenditures, working capital needs, dividend payments and acquisitions, and to obtain refinancing or additional financing; B&G Foods' ability to comply with the ratios or tests under its long-term debt agreements, including the maximum leverage ratio and minimum interest coverage ratio under its credit agreement, which may be affected not only by B&G Foods' operating performance but also by events beyond B&G Foods' control, including prevailing economic, financial and industry conditions; the effects of international trade disputes, tariffs, quotas, and other import or export restrictions on B&G Foods' procurement, sales and operations (including recent U.S. tariffs imposed or threatened to be imposed on China, Canada and Mexico and other countries and retaliatory actions taken or threatened to be taken by such countries); the effects of rising costs for and/or decreases in supply of B&G Foods' commodities, ingredients, packaging, other raw materials, distribution and labor; crude oil prices and their impact on distribution, packaging and energy costs; B&G Foods' ability to successfully implement sales price increases and cost saving measures to offset any cost increases; intense competition, changes in consumer preferences, demand for B&G Foods' products and local economic and market conditions; B&G Foods' continued ability to promote brand equity successfully, to anticipate and respond to new consumer trends, to develop new products and markets, to broaden brand portfolios in order to compete effectively with lower priced products and in markets that are consolidating at the retail and manufacturing levels and to improve productivity; the ability of B&G Foods and its supply chain partners to continue to operate manufacturing facilities, distribution centers and other work locations without material disruption, and to procure ingredients, packaging and other raw materials when needed despite disruptions in the supply chain or labor shortages; the impact pandemics or disease outbreaks, may have on B&G Foods' business, including among other things, B&G Foods' supply chain, manufacturing operations or workforce and customer and consumer demand for B&G Foods' products; B&G Foods' ability to recruit and retain senior management and a highly skilled and diverse workforce at B&G Foods' corporate offices, manufacturing facilities and other work locations despite a very tight labor market and changing employee expectations as to fair compensation, an inclusive and diverse workplace, flexible working and other matters; the risks associated with the possible expansion of B&G Foods' business through acquisitions or reduction in size through divestitures; B&G Foods' possible inability to successfully complete divestitures of non-core businesses to sharpen its focus, improve margins, reduce costs and reduce its long-term debt, and, if completed, B&G Foods' possible inability to achieve the expected margin improvements, cost savings and debt reduction; B&G Foods' possible inability to identify new acquisitions or to integrate recent or future acquisitions or B&G Foods' failure to realize anticipated revenue enhancements, cost savings or other synergies from recent or future acquisitions; B&G Foods' ability to successfully complete the integration of recent or future acquisitions into B&G Foods' enterprise resource planning (ERP) system; tax reform and legislation, including the effects of the Infrastructure Investment and Jobs Act, the Inflation Reduction Act, the U.S. Tax Cuts and Jobs Act and the U.S. CARES Act, and any future tax reform or legislation; B&G Foods' ability to access the credit markets and B&G Foods' borrowing costs and credit ratings, which may be influenced by credit markets generally and the credit ratings of B&G Foods' competitors; unanticipated expenses, including, without limitation, litigation or legal settlement expenses; the effects of currency movements of the Canadian dollar and the Mexican peso as compared to the U.S. dollar; future impairments of B&G Foods' goodwill, other intangible assets, and tangible assets, such as property, plant, equipment or inventory, which impairments may be triggered if operating results for any of B&G Foods' brands deteriorate at rates in excess of its current projections, B&G Foods' market capitalization declines or discount rates change, even if due to macroeconomic factors, or may be triggered by divestitures if divestiture proceeds are less than the book value of the assets being divested; B&G Foods' ability to protect information systems against, or effectively respond to, a cybersecurity incident, other disruption or data leak; B&G Foods' ability to successfully implement B&G Foods' sustainability initiatives and achieve B&G Foods' sustainability goals, and changes to environmental laws and regulations; B&G Foods' ability to successfully adopt and utilize new technologies, such as artificial intelligence, including machine learning and generative artificial intelligence; and other factors that affect the food industry generally, including: recalls if products become adulterated or misbranded, liability if product consumption causes injury, ingredient disclosure and labeling laws and regulations and the possibility that consumers could lose confidence in the safety and quality of certain food products; competitors' pricing practices and promotional spending levels; fluctuations in the level of B&G Foods' customers' inventories and credit and other business risks related to B&G Foods' customers operating in a challenging economic and competitive environment; and the risks associated with third-party suppliers and co-packers, including the risk that any failure by one or more of B&G Foods' third-party suppliers or co-packers to comply with food safety or other laws and regulations may disrupt B&G Foods' supply of raw materials or certain finished goods products or injure B&G Foods' reputation. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in B&G Foods' filings with the Securities and Exchange Commission, including under Item 1A, 'Risk Factors' in B&G Foods' most recent Annual Report on Form 10-K and in its subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. B&G Foods undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
16 minutes ago
- Yahoo
2 Dire Warnings for Auto Investors to Heed
John Murphy's "Car Wars" report offers insights into the automotive industry. Ever-changing EV sentiment has made strategic planning a challenge for carmakers. Meanwhile, China's fierce price war is eating at automakers' bottom lines. 10 stocks we like better than Ford Motor Company › The automotive industry is currently whipsawing back and forth with the uncertainty of tariffs hanging over the manufacturers, suppliers, and -- ultimately -- consumers. That's perfect timing for one of the automotive industry's most highly anticipated presentations: Car Wars, by Bank of America auto analyst John Murphy. This year's edition recently arrived, and it had a few important takeaways for auto investors as well as automakers -- from the young and niche players such as Rivian Automotive (NASDAQ: RIVN) and Tesla (NASDAQ: TSLA), all the way to more historical players such as General Motors (NYSE: GM). "The unprecedented EV head-fake has wreaked havoc on product plans," Murphy said in the bank's annual report, according to CNBC. "The next four-plus years will be the most uncertain and volatile time in product strategy ever." The electric vehicle (EV) industry is still growing, but it's just growing in the U.S. at a pace much slower than originally predicted. While countries such as China are testing EV market share around 50%, the U.S. is lagging behind, and the current administration could make things worse by pulling federal support for EVs. But automakers' product plans, designs, and vehicle strategies span years, so changing course surrounding something such as EVs could get expensive, and that's partly what Murphy sees happening. This is important for investors because big changes in plans could mean big charges and write-downs. One example is Ford Motor Company (NYSE: F) and its $1.9 billion in expenses and write-downs due to the cancellation of its planned electric three-row SUV. And it's just one of what will be many such developments in the coming years. In his report last year, Murphy said, "I think you have to see the [Detroit Big Three] exit China as soon as they possibly can," according to Reuters. Now, the situation in China is even worse, and the brutal price war has engulfed the entire EV industry. The problem is that it's likely to get even worse before it gets better, and some analysts question whether the industry can pull out of the price war before imploding with weakening demand, overcapacity, and too many brands. BYD, China's juggernaut EV maker, just slashed prices last month by as much as 34% on 22 electric and plug-in hybrid models, effective through the end of June. The price cuts are across the board, and the average retail price in China has fallen roughly 19% over the past two years, according to a Nomura report. That's better than the 27% drop in hybrid or range-extension vehicles, or the 21% decline battery-only vehicles. General Motors is a good example. China once generated $2 billion in income for the company, although those days may be long gone. Thanks to deep cost cuts and a slight improvement in sales, its operations in China were profitable during the fourth quarter of 2024, reversing numerous quarters of losses. However, it recorded a roughly $4 billion charge to cover restructuring efforts in that country. Adapting to the current conditions in China will require massive effort and likely restructuring costs. Ultimately, there's a lot of uncertainty facing automakers. With China's price war, Chinese EV companies expanding overseas with prices the competition can't match, tariff uncertainty, and ever-changing EV consumer sentiment, there's a lot on an automaker's plate. With these warnings regarding China and potential one-time charges and write-offs due to rapidly changing strategies, investors would be wise to take the long view when it comes to auto investments. It's going to be an uphill battle for automakers in the near term until China's market stabilizes and EV growth is more consistent and reliable in the U.S. market. Before you buy stock in Ford Motor Company, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Ford Motor Company wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $660,341!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $874,192!* Now, it's worth noting Stock Advisor's total average return is 999% — a market-crushing outperformance compared to 173% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Bank of America is an advertising partner of Motley Fool Money. Daniel Miller has positions in Ford Motor Company and General Motors. The Motley Fool has positions in and recommends Bank of America and Tesla. The Motley Fool recommends BYD Company and General Motors. The Motley Fool has a disclosure policy. 2 Dire Warnings for Auto Investors to Heed was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20 minutes ago
- Yahoo
VPT Announces New VP of North American Sales, Trevor Rice
BLACKSBURG, Va., June 10, 2025 /PRNewswire/ -- VPT, Inc., a global leader in high-reliability power conversion solutions and a HEICO company (NYSE: HEI.A) (NYSE: HEI), is pleased to announce the appointment of Trevor Rice as Vice President of North American Sales. With more than 25 years of sales management experience, Rice will lead VPT's Outside Sales Team, Inside Sales Operations, and an extensive network of North American representatives. His leadership will be instrumental in advancing VPT's mission to deliver high-reliability DC-DC power conversion solutions. Prior to joining VPT, Rice spent 16 years with XP Power, a global manufacturer of AC-DC, DC-DC, high voltage, and RF power solutions. As Director of Sales, he led a team of Direct Sales Managers serving key sectors including semiconductor fabrication, healthcare, industrial, and defense markets. Rice began his career at Blacksburg-based Luna Innovations, where he held multiple engineering and sales positions, including Director of Business Development. He holds a Bachelor of Science in Mechanical Engineering from Virginia Polytechnic Institute and State University. "I'm thrilled to join VPT and contribute to a company with such a strong legacy in high-reliability power solutions," said Trevor Rice. "I look forward to working with our sales team and representatives to build on their successes and deliver value to our customers across North America." "Trevor's extensive technical background and decades of leadership in power conversion solutions make him an exceptional addition to our team," said Paul Andersen, who previously served as VPT's Vice President of North American Sales. "His addition to the team reinforces VPT's commitment to innovation and delivering customer-focused solutions in the power electronics industry." To learn more about VPT's leadership team and high-reliability power solutions, visit About VPT and HEICOVPT, Inc., part of the HEICO Electronic Technologies Group, is a global provider of innovative DC-DC power converters and EMI filters for avionics, military and space applications. Every day, organizations like NASA, Lockheed Martin, Boeing, BAE Systems, Thales, and many more depend on high-reliability solutions from VPT to power critical systems. For more information about VPT, please visit HEICO Corporation (NYSE:HEI.A) (NYSE:HEI) is engaged primarily in niche segments of the aviation, defense, space and electronics industries through its Hollywood, FL based HEICO Aerospace Holdings Corp. subsidiary and its Miami, FL-based HEICO Electronic Technologies Corp. subsidiary. For more information about HEICO, please visit Products described in this communication are subject to all export license restrictions and regulations which may include but are not limited to ITAR (International Traffic in Arms Regulations) and the Export Administration and Foreign Assets Control Regulations. Further restrictions may apply. The information provided is considered accurate at time of publication, errors or omissions excepted. VPT, Inc. reserves the right to make changes to products or services without prior notification and advises customers to obtain the latest version of all relevant technical information from VPT to verify data prior to placing orders. VPT, its logo and tagline are registered trademarks in the U.S. Patent and Trademark Office. All other names, product names and trade names may be trademarks or registered trademarks of their respective holders. View original content to download multimedia: SOURCE VPT, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25 minutes ago
- Yahoo
TRUE MOVEMENT TECH ACQUIRES MANCINO MATS
Expanding U.S. Manufacturing to Build the Future of Active Play SAN DIEGO, June 10, 2025 /PRNewswire/ -- True Movement Tech, a fast-growing leader in sport entertainment innovation and North American manufacturing, today announced the acquisition of Mancino Manufacturing Co., Inc a respected U.S. manufacturer of premium safety padding and equipment for gymnastics, cheer, martial arts, and other sports facilities. This acquisition reinforces True Movement Tech's longstanding commitment to local-first production while expanding its ability to serve movement and play businesses with high-performance, end-to-end solutions. Mancino Mats brings decades of expertise in safety padding, further elevating True Movement Tech's capacity to meet the demands of active environments where safety, durability, and performance are paramount. True Movement Tech President Joe Gram said: Across all sport and play markets, customers are demanding professional and trustworthy service that they can count on throughout the lifetime of their sport business. By joining with Mancino, we are adding a company with decades of experience and success in the safety padding space that - when combined with True Movement Tech's other offerings - allows us to deliver domestically manufactured sport products that are beyond what anyone else is currently capable of. With this latest addition, True Movement Tech now operates six complementary businesses—True Movement Tech, AirTrack™, Superior Trampoline Manufacturing, XR Sports, SDUNITED Training Center, and now Mancino Mats—creating a unified family of design, manufacturing, and installation experts. True Movement Tech is accelerating its mission to shape the future of active play and cementing its role as a trusted leader in the sports entertainment manufacturing industry. ABOUT TRUE MOVEMENT TECH True Movement Tech is a leading manufacturer in the active play and sports entertainment industry, specializing in the design, production, and installation of globally adopted and customer-loved attractions. True Movement Tech first became known when they transformed the trampoline market with their AirTrack Sport Courts and high-design AirBags now universally adopted across the trampoline industry. They have continued to evolve into a proven, reliable partner for business owners and brands from concept to installation to post opening service. True Movement Tech operates six complementary businesses: True Movement Tech, AirTrack™, Superior Trampoline Manufacturing, XR Sports, SDUNITED Training Center, and now Mancino Mats—together forming a global force of manufacturing and design experts. True Movement Tech is headquartered in San Marcos, CA. For more information, please visit: ABOUT MANCINO MATS For over 60 years, Mancino Mats has been a trusted name in American-made safety padding and sports equipment for gymnastics, cheer, martial arts, and athletic facilities. Known for its craftsmanship, product durability, and customer-first service, Mancino has earned the loyalty of coaches, gym owners, and athletic directors across the country. With deep industry expertise and a legacy of innovation, Mancino continues to set the standard for quality and safety in movement-based environments. Now part of the True Movement Tech family, Mancino Mats is proud to help shape the future of active play through expanded capabilities and continued U.S. manufacturing excellence. For more information, please visit: For questions or further inquiries please contact:info@ I 408-569-9504 View original content to download multimedia: SOURCE True Movement Tech Sign in to access your portfolio