B&G Foods, Inc. Reports Impairment Charges for the Fourth Quarter Ended December 30, 2023
February 27, 2024 at 04:05 pm EST
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B&G Foods, Inc. reported impairment charges for the fourth quarter ended December 30, 2023. During the fourth quarter of 2023, the company recorded pre-tax, non-cash impairment charges of $20.5 million related to intangible trademark assets for the Baker?s Joy, Molly McButter, Sugar Twin, and New York Flatbreads brands.
B&G Foods, Inc. manufactures, sells and distributes branded shelf-stable and frozen foods across the United States, Canada and Puerto Rico. The Company complements its branded product retail sales with institutional and foodservice sales and private label sales. Its products include frozen and canned vegetables, crackers, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, bagel chips, spices, hot sauces, baking soda, corn starch, nut clusters and other specialty products. The Company has more than 50 brands, including B&G, B&M, Bear Creek, Cream of Wheat, Crisco, Dash, Green Giant, Las Palmas, Le Sueur, Mama Maryâs, Maple Grove Farms, New York Style, Ortega, Polaner, Spice Islands and Victoria. The Company sells, markets and distributes its products through a multiple-channel sales, marketing and distribution system to various United States food channels, including sales and shipments to supermarkets and mass merchants.
B&G FOODS, INC. 
