Replies to post #106 on B&G Foods Inc (BGS)

[FUNMAN]

B&G Foods launch 7.5M shares in ATM equity offering • 8:29 AM

B&G Foods (NYSE:BGS) intends to offer and sell up to 7.5M shares in an at-the-market ATM equity offering program.

Net proceeds to be used for general corporate purposes, which could include, among other things, repayment, refinancing, redemption or repurchase of long-term debt or possible acquisitions.

Shares trading 0.5% down premarket




I assume they'll refinance something and make a small acquisition.

I wish they were better at growing organically. Then the PPS would take off.

[FUNMAN]

B&G Foods to sell off its Portland, Maine manufacturing facility • 4:44 PM

For improving productivity and reduce overall costs, B&G Foods (NYSE:BGS) reached an agreement to sell its 100+ years old Portland, Maine manufacturing facility and 13.5 acre waterfront property to the Institute for Digital Engineering and Life Sciences.

The company plans to move manufacturing operations of B&M, Underwood and certain other brands to third-party co-manufacturing facilities and existing B&G Foods manufacturing facilities.

B&G Foods does not anticipate any disruption in production or the delivery of customer orders relating to the transition of manufacturing operations, which is expected to be completed during Q4 or 1Q22.

The sale is expected to close by 2021 end.

Related to the closure, the company has launched a multi-employer pension plan withdrawal liability which will be recorded as cash and non-cash charges in Q3 and Q4.