B&G Foods agrees to sell Back to Nature brand to Barilla America; Q1 2023 close

B&G Foods, Inc.

B&G Foods entered agreement to sell Back to Nature brand to Barilla America, an affiliate of Barilla.
Expected closing in Q1 2023 subject to customary conditions.
Net proceeds will be used to repay long-term debt; terms not disclosed.
Divestiture part of portfolio focus and transition to business unit structure.

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