B&G Foods, Inc. has announced the sale of its Don Pepino and Sclafani brands to Violet Foods LLC, a portfolio company of Amphora Equity Partners LLC. The transaction includes the manufacturing facility in Williamstown, New Jersey, where these products are produced. This divestiture aligns with B&G Foods' strategic initiative to focus on its core brands and reduce long-term debt. The net proceeds from the sale will be used for debt repayment. BofA Securities, Inc. served as the financial advisor for this transaction.
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