B&G Foods Inc., based in Parsippany, announced Monday that it has reached an agreement to sell its manufacturing facility located in Portland, Maine.
The sale of the 13.5-acre property is part of an ongoing effort to improve productivity and reduce costs, the company said in a news release.
“The Portland community has been the home to (the) B&M (brand) for more than a century and, while this was a very difficult decision, we believe it is in the best interest for the future of Portland,” CEO and President Casey Keller said. “We are grateful for the dedication of each of our employees, and we are committed to supporting their transition with financial support and assistance finding new employment.”
B&G, a maker of food products including Cream of Wheat and Green Giant, will move manufacturing operations of B&M, Underwood and other brands to third-party facilities and its own existing manufacturing facilities, the company said.
The sale is expected to close by year-end, with the transition of manufacturing operations expected to be completed during the fourth quarter or the first quarter of 2022.
The closing of the facility will affect approximately 86 employees, and the company said it has initiated a plan to offer severance and career transition support to those who are eligible.