\nB&G Foods, Inc. (NYSE: BGS) announced today that Kenneth C. \u201cCasey\u201d Keller, President and Chief Executive Officer and a member of the Board of Directors, has notified B&G Foods of his intention to retire after five years in his position. B&G Foods and Mr. Keller mutually agreed that Mr. Keller\u2019s retirement as Chief Executive Officer and as a director will be effective August 7, 2026 but that Mr. Keller will on an ongoing basis assist B&G Foods in its leadership transition.<\/p>\n
\nGuided by B&G Foods\u2019 ongoing succession planning process, the Board has selected B&G Foods\u2019 next Chief Executive Officer, who has accepted the offer. The successor currently serves in a senior leadership position at another public company. At the successor\u2019s request, B&G Foods has not yet disclosed his identity. B&G Foods expects to announce shortly the incoming Chief Executive Officer and additional transition details in coordination with the reporting requirements of his current employer.<\/p>\n
\nMr. Keller stated, \u201cIt has been an honor to serve as the Chief Executive Officer of B&G Foods. I am proud of our accomplishments as we have navigated through difficult trends in the consumer packaged foods industry. Importantly, we have begun to reshape our portfolio through our recent divestiture and acquisition activity, and I believe the dedicated and resilient team at B&G Foods will guide the Company towards a bright future. I wish the entire B&G Foods family all the best.\u201d<\/p>\n
\nStephen C. Sherrill, Chair of the Board of Directors of B&G Foods, said, \u201cOn behalf of our entire company, I want to thank Casey for his contributions to B&G Foods, including his efforts to begin reshaping our portfolio to sharpen focus, simplify our portfolio, improve margins and cash flow, and maximize future value creation. Casey helped guide B&G Foods through challenging times for our industry, including post-COVID supply chain disruption, price inflation and unprecedented tariffs. I wish Casey the best of luck in his retirement and continued success in all his future endeavors.\u201d<\/p>\n
About B&G Foods, Inc. Forward-Looking Statements View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260805814254\/en\/<\/a><\/span><\/p>\n \nInvestor Relations:
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<\/b>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\u2019 diverse portfolio of more than 50 brands you know and love, including B&G<\/i>, B&M<\/i>, Bear Creek<\/i>, College Inn,<\/i>Cream of Wheat<\/i>, Crisco<\/i>, Dash,<\/i>Kitchen<\/i>Basics, Las Palmas<\/i>, Mama Mary\u2019s<\/i>, Maple Grove Farms<\/i>, New York Style<\/i>, Ortega<\/i>, Polaner<\/i>, Spice Islands<\/i> and Victoria<\/i>, there\u2019s a little something for everyone. For more information about B&G Foods and its brands, please visit www.bgfoods.com<\/a>.<\/p>\n
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<\/b>Statements in this press release that are not statements of historical or current fact constitute \u201cforward-looking statements.\u201d The forward-looking statements contained in this press release include, without limitation, statements related to the CEO transition and B&G Foods\u2019 efforts to sharpen focus, simplify our portfolio, improve margins and cash flow, and maximize future value creation. 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 \u201cbelieves,\u201d \u201cbelief,\u201d \u201cexpects,\u201d \u201cprojects,\u201d \u201cintends,\u201d \u201canticipates,\u201d \u201cassumes,\u201d \u201ccould,\u201d \u201cshould,\u201d \u201cestimates,\u201d \u201cpotential,\u201d \u201cseek,\u201d \u201cpredict,\u201d \u201cmay,\u201d \u201cwill\u201d or \u201cplans\u201d and similar references to future periods to be uncertain and forward-looking. Factors that may affect actual results include, without limitation: B&G Foods\u2019 substantial leverage, which may impact B&G Foods\u2019 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\u2019 ability to comply with the ratios or tests under its long-term debt agreements, including the maximum consolidated leverage ratio and minimum consolidated interest coverage ratio under its credit agreement, which may be affected not only by B&G Foods\u2019 operating performance but also by events beyond B&G Foods\u2019 control, including prevailing economic, financial and industry conditions, and changes in interest rates; the effects of international trade disputes, tariffs, quotas, and other import or export restrictions on B&G Foods\u2019 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\u2019 commodities, ingredients, packaging, other raw materials, distribution and labor; crude oil prices and their impact on distribution, packaging and energy costs; B&G Foods\u2019 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\u2019 products and local economic and market conditions; B&G Foods\u2019 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\u2019 business, including among other things, B&G Foods\u2019 supply chain, manufacturing operations or workforce and customer and consumer demand for B&G Foods\u2019 products; B&G Foods\u2019 ability to recruit and retain senior management and a highly skilled and diverse workforce at B&G Foods\u2019 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\u2019 business through acquisitions or reduction in size through divestitures; B&G Foods\u2019 possible inability to successfully complete divestitures of non-core businesses,<\/i>including the pending divestiture of B&G Foods\u2019 <\/i>Green Giant and <\/i>Le Sieur frozen and shelf-stable business in Canada, to sharpen its focus, improve margins, reduce costs and reduce its long-term debt, and, if completed, B&G Foods\u2019 possible inability to achieve the expected margin improvements, cost savings and debt reduction; B&G Foods\u2019 possible inability to identify new acquisitions or to integrate recent or future acquisitions or B&G Foods\u2019 failure to realize anticipated revenue enhancements, cost savings or other synergies from recent or future acquisitions, including the <\/i>College Inn and <\/i>Kitchen Basics acquisition; B&G Foods\u2019 ability to successfully complete the integration of recent or future acquisitions into B&G Foods\u2019 enterprise resource planning (ERP) system; tax reform and legislation, including the effects of the U.S. Tax Cuts and Jobs Act and the One Big Beautiful Bill Act, and any future tax reform or legislation; B&G Foods\u2019 ability to access the credit markets and B&G Foods\u2019 borrowing costs and credit ratings, which may be influenced by credit markets generally and the credit ratings of B&G Foods\u2019 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\u2019 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\u2019 brands deteriorate at rates in excess of its current projections, B&G Foods\u2019 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\u2019 ability to protect information systems against, or effectively respond to, a cybersecurity incident, other disruption or data leak; B&G Foods\u2019 ability to successfully implement B&G Foods\u2019 sustainability initiatives and achieve B&G Foods\u2019 sustainability goals, and changes to environmental laws and regulations; B&G Foods\u2019 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\u2019 pricing practices and promotional spending levels; fluctuations in the level of B&G Foods\u2019 customers\u2019 inventories and credit and other business risks related to B&G Foods\u2019 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\u2019 third-party suppliers or co-packers to comply with food safety or other laws and regulations may disrupt B&G Foods\u2019 supply of raw materials or certain finished goods products or injure B&G Foods\u2019 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\u2019 filings with the Securities and Exchange Commission, including under Item 1A, \u201cRisk Factors\u201d in B&G Foods\u2019 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.<\/i><\/p>\n<\/p>\n
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ICR, Inc.
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Anna Kate Heller
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bgfoodsIR@icrinc.com<\/a><\/p>\n