B&G Foods, Inc. (BGS): Business Model Canvas

In der dynamischen Welt der verpackten Lebensmittelindustrie sticht B&G Foods, Inc. (BGS) als strategisches Kraftpaket hervor, das alltägliche Mahlzeiten in praktische, erschwingliche kulinarische Erlebnisse verwandelt. Mit einem robusten Geschäftsmodell, das verschiedene Produktlinien wie Green Giant und Cream of Wheat umfasst, hat sich dieses Unternehmen meisterhaft in der komplexen Landschaft der Lebensmittelherstellung, des Vertriebs und der Verbrauchereinbindung zurechtgefunden. Durch die Nutzung strategischer Partnerschaften, innovativem Marketing und einem ausgeprägten Verständnis der Verbraucherbedürfnisse hat sich B&G Foods eine einzigartige Nische bei der Bereitstellung hochwertiger, vertrauenswürdiger Lebensmittelprodukte geschaffen, die bei Haushalten in ganz Nordamerika Anklang finden.

B&G Foods, Inc. (BGS) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Lieferanten von Lebensmittelzutaten und Verpackungsmaterialien

B&G Foods unterhält Partnerschaften mit mehreren strategischen Lieferanten für Lebensmittelzutaten und Verpackungsmaterialien.

Lieferantenkategorie	Jährlicher Lieferwert	Vertragsdauer
Verpackungsmaterialien	37,2 Millionen US-Dollar	3-5 Jahre
Lebensmittelzutaten	52,6 Millionen US-Dollar	2-4 Jahre

Vertriebspartner

• Walmart
• Kroger
• Albertsons
• Ziel
• Costco

Abdeckung des Vertriebsnetzes: 48 Staaten, 95 % des nationalen Lebensmitteleinzelhandelsmarktes

Co-Produktionsanlagen

Standort	Produktionskapazität	Jährliches Produktionsvolumen
New Jersey	75.000 Tonnen/Jahr	62.000 Tonnen
Missouri	50.000 Tonnen/Jahr	43.000 Tonnen

Agrarlieferanten

Wichtige landwirtschaftliche Zutatenquellen:

• Getreideproduzenten im Mittleren Westen
• Gemüsefarmen in Kalifornien
• Zitrusbauern in Florida

Logistik- und Transportpartner

Partner	Jährliches Transportvolumen	Vertragswert
UPS-Fracht	15.000 LKW-Ladungen	22,3 Millionen US-Dollar
Schneller Transport	12.500 LKW-Ladungen	18,7 Millionen US-Dollar

B&G Foods, Inc. (BGS) – Geschäftsmodell: Hauptaktivitäten

Herstellung und Verarbeitung von Lebensmitteln

B&G Foods betreibt ab 2023 12 Produktionsstätten in den Vereinigten Staaten. Die Gesamtproduktionskapazität beträgt etwa 1,2 Millionen Quadratfuß Produktionsfläche.

Produktionsstandort	Produktionskapazität	Primäre Produktlinien
Parsippany, NJ	285.000 Quadratfuß	Grüner Riese, Weizencreme
Memphis, TN	220.000 Quadratfuß	Ortega, Maple Grove Farms
Omaha, NE	165.000 Quadratfuß	Cracker-Fass, Zurück zur Natur

Markenmanagement und Marketing

B&G Foods verwaltet 15 Kernmarken mit jährlichen Marketingausgaben von 42,3 Millionen US-Dollar im Jahr 2022.

• Jährliches Marketingbudget: 42,3 Millionen US-Dollar
• Anzahl der Hauptmarken: 15
• Zuweisung für digitales Marketing: 28 % der gesamten Marketingausgaben

Produktforschung und -entwicklung

Die jährlichen F&E-Investitionen beliefen sich im Jahr 2022 auf insgesamt 8,7 Millionen US-Dollar und konzentrierten sich auf Produktinnovationen und Produktlinienerweiterungen.

F&E-Schwerpunktbereich	Investition	Neue Produkteinführungen
Gesunde Alternativen	3,2 Millionen US-Dollar	7 neue Produkte
Geschmacksinnovation	2,5 Millionen Dollar	12 neue Geschmacksvarianten

Qualitätskontrolle und Einhaltung der Lebensmittelsicherheit

B&G Foods behauptet GFSI (Globale Lebensmittelsicherheitsinitiative) Zertifizierungen in allen Produktionsstätten.

• Jährliches Budget für Qualitätssicherung: 12,4 Millionen US-Dollar
• Anzahl Qualitätsprüfungen pro Jahr: 4.286
• Einhaltung der Lebensmittelsicherheit: 99,7 %

Verkauf und Vertrieb von verpackten Lebensmitteln

Das Vertriebsnetz umfasst 50 Bundesstaaten und mehrere internationale Märkte.

Vertriebskanal	Prozentsatz des Umsatzes	Jahresumsatz
Lebensmitteleinzelhandel	68%	1,42 Milliarden US-Dollar
Großhandel	22%	459 Millionen US-Dollar
E-Commerce	10%	209 Millionen Dollar

B&G Foods, Inc. (BGS) – Geschäftsmodell: Schlüsselressourcen

Etablierte Lebensmittelmarken

B&G Foods besitzt mehrere etablierte Lebensmittelmarken mit bedeutender Marktpräsenz:

Marke	Produktkategorie	Geschätzter Jahresumsatz (2023)
Grüner Riese	Gefrorenes und konserviertes Gemüse	345 Millionen Dollar
Weizencreme	Heiße Cerealien	85 Millionen Dollar
Ortega	Mexikanische Lebensmittel	120 Millionen Dollar

Produktionsanlagen

B&G Foods betreibt mehrere Produktionsstätten in ganz Nordamerika:

• Gesamte Produktionsanlagen: 12
• Gesamtproduktionskapazität: 750.000 Quadratmeter
• Geografische Standorte: USA und Kanada

Vertriebsnetz

Vertriebsmöglichkeiten und Reichweite:

Verteilungsmetrik	Wert
Gesamtverteilungszentren	8
Einzelhandelsgeschäfte bedient	Über 75.000
Geografische Abdeckung	Vereinigte Staaten und Kanada

Personalwesen

Zusammensetzung und Fachwissen der Belegschaft:

• Gesamtzahl der Mitarbeiter: 1.400
• Durchschnittliche Betriebszugehörigkeit: 8,5 Jahre
• Management mit mehr als 10 Jahren Erfahrung: 62 %

Geistiges Eigentum

Einzelheiten zum Portfolio zum Schutz geistigen Eigentums:

• Gesamtzahl der eingetragenen Marken: 45
• Aktive Produktformulierungen: 127
• Jährliche F&E-Investitionen: 12,3 Millionen US-Dollar

B&G Foods, Inc. (BGS) – Geschäftsmodell: Wertversprechen

Vielfältiges Portfolio an haltbaren Lebensmitteln

B&G Foods verwaltet ein Portfolio von über 50 Markenlebensmitteln in mehreren Kategorien. Ab der Finanzberichterstattung 2023 umfassen die Produktlinien des Unternehmens:

Produktkategorie	Anzahl der Marken
Gewürze & Saucen	12
Tiefkühlkost	8
Snackprodukte	15
Backmischungen	7
Gemüsekonserven	6

Erschwingliche und praktische Essenslösungen

Der durchschnittliche Einzelhandelspreis für B&G Foods-Produkte liegt zwischen 2,50 und 5,99 US-Dollar pro Einheit. Lagerstabile Produkte haben eine durchschnittliche Haltbarkeit von 18–24 Monaten.

• Mittlerer Produktpreis: 3,79 $
• Zubereitungszeit für Mahlzeitenlösungen: 10-15 Minuten
• Verpackung für einfache Lagerung und schnelle Zubereitung

Vertrauenswürdige Marken mit langjähriger Verbraucherbekanntheit

Zu den wichtigsten Marken mit etablierter Marktpräsenz gehören:

Marke	Jahre auf dem Markt	Marktanteil
Grüner Riese	125	22%
Weizencreme	135	18%
Ortega	110	15%

Hochwertige, konsistente Produktangebote

Qualitätskennzahlen für B&G Foods-Produkte:

• Bewertung der Produktkonsistenz: 4,6/5
• Kundenzufriedenheitswert: 87 %
• Jährliche Qualitätskontrollen: 3.600

Nahrhafte und vertraute Lebensmitteloptionen für Haushalte

Ernährungsphysiologisch profile der wichtigsten Produktlinien:

Produktlinie	Durchschnittliches Protein (g)	Durchschnittliche Ballaststoffe (g)
Grünes Riesengemüse	2-3	3-4
Weizencreme	4	2
Ortega Essenssets	8-10	3-5

B&G Foods, Inc. (BGS) – Geschäftsmodell: Kundenbeziehungen

Kundendienst-Supportkanäle

B&G Foods betreibt Kundensupport über mehrere Kanäle:

• Telefonsupport: 1-800-243-6101
• E-Mail-Support: Consumer.relations@bgfoods.com
• Website-Kontaktformular auf www.bgfoods.com

Support-Kanal	Durchschnittliche Reaktionszeit	Kundenzufriedenheitsrate
Telefonsupport	48 Minuten	87%
E-Mail-Support	24 Stunden	79%
Website-Kontaktformular	72 Stunden	65%

Konsequentes Markenengagement durch Marketing

Zuweisung des Marketingbudgets für 2023: 12,4 Millionen US-Dollar

• Ausgaben für digitales Marketing: 5,6 Millionen US-Dollar
• Traditionelles Medienmarketing: 6,8 Millionen US-Dollar

Treueprogramme und Werbekampagnen

Programmname	Einschreibung	Jährlicher Rückzahlungssatz
B&G Foods Rewards-Programm	127.500 Mitglieder	42%

Social-Media-Interaktion und Verbraucher-Feedback

Anzahl der Social-Media-Follower ab 2024:

• Facebook: 215.000 Follower
• Instagram: 98.000 Follower
• Twitter: 45.000 Follower

Responsive Produktentwicklung

Jährliches Verbraucherfeedback verarbeitet: 24.750 Einsendungen

Feedback-Kategorie	Anzahl der Einreichungen	Produktänderungen
Produktgeschmack	8,250	37 Rezeptanpassungen
Verpackung	6,500	12 Verpackungsneugestaltungen
Nährstoffgehalt	4,750	9 Produktneuformulierungen

B&G Foods, Inc. (BGS) – Geschäftsmodell: Kanäle

Einzelhandelsnetzwerke für Lebensmittelgeschäfte

B&G Foods vertreibt Produkte über große Lebensmittelketten, darunter:

Einzelhändler	Anzahl der Geschäfte
Walmart	4.742 Supercenter
Kroger	2.742 Lebensmittelgeschäfte
Albertsons	2.276 Geschäfte
Publix	1.288 Supermärkte

Online-E-Commerce-Plattformen

Zu den digitalen Vertriebskanälen gehören:

• Amazon.com – 47,3 % des Online-Lebensmittelumsatzes
• Instacart – 44 % Marktanteil bei der Online-Lebensmittellieferung
• Walmart.com – Online-Lebensmittelverkäufe im Wert von 43,8 Milliarden US-Dollar

Großhandelsvertriebszentren

B&G Foods ist über mehrere Vertriebszentren tätig:

Standort	Lagergröße
New Jersey	350.000 Quadratfuß
Kalifornien	275.000 Quadratfuß
Texas	225.000 Quadratfuß

Digitale Direct-to-Consumer-Kanäle

Digitale Direktvertriebsplattformen:

• Firmenwebsite
• Social-Media-Shopping-Integrationen
• Partnerschaften mit Essenssets im Abonnement

Fachhändler für Lebensmittel

Fachhandelsvertrieb:

Händlertyp	Anzahl der Geschäfte
Vollwertkostmarkt	504 Geschäfte
Trader Joe's	530 Geschäfte
Sprossen-Bauernmarkt	374 Geschäfte

B&G Foods, Inc. (BGS) – Geschäftsmodell: Kundensegmente

Haushalte suchen praktische Lösungen für Mahlzeiten

B&G Foods richtet sich an 42,3 Millionen US-Haushalte, die schnelle und einfache Optionen für die Zubereitung von Mahlzeiten suchen. Durchschnittliche Haushaltsausgaben für Fertiggerichte: 2.400 US-Dollar pro Jahr.

Demografische Kategorie	Marktdurchdringung	Jährliche Ausgaben
Einzelprofis	18.5%	$1,875
Familien mit doppeltem Einkommen	27.6%	$2,450
Junge Millennials	15.3%	$1,650

Budgetbewusste Verbraucher

Zielmarktsegment: 63,7 Millionen Verbraucher mit einem jährlichen Haushaltseinkommen unter 50.000 US-Dollar.

• Durchschnittliche Preissensibilität: 35 % höher als in Premium-Marktsegmenten
• Bevorzugung preisgünstiger Lebensmittelmarken
• Durchschnittliches Lebensmittelbudget: 385 $ monatlich

Familien mit Kindern

B&G Foods beliefert 22,6 Millionen Familien mit Kindern unter 18 Jahren.

Familientyp	Marktanteil	Durchschnittliche Produktkäufe
Kernfamilien	42.3%	7,5 Produkteinheiten/Monat
Alleinerziehende Haushalte	17.6%	5,2 Produkteinheiten/Monat

Lebensmittelgeschäfte und Supermarktketten

Das Vertriebsnetz umfasst landesweit 68.000 Einzelhandelsstandorte.

• Wichtige Einzelhandelspartner: Walmart, Kroger, Albertsons
• Jährlicher Großhandelsumsatz: 1,2 Milliarden US-Dollar
• Durchschnittliche Produktplatzierung im Geschäft: 15–18 SKUs

Institutionelle Lebensmitteldienstleister

Das Marktsegment umfasst Schulen, Krankenhäuser und Firmenkantinen.

Institutionstyp	Jährliches Einkaufsvolumen	Produktkategorien
K-12-Schulen	275 Millionen Dollar	Konserven, Gewürze
Krankenhäuser	185 Millionen Dollar	Abgepackte Mahlzeiten, Gewürze
Firmenkantinen	145 Millionen Dollar	Lagerstabile Produkte

B&G Foods, Inc. (BGS) – Geschäftsmodell: Kostenstruktur

Kosten für die Beschaffung von Rohwaren

Für das Geschäftsjahr 2023 meldete B&G Foods Gesamtkosten der verkauften Waren (COGS) von 1.192,7 Millionen US-Dollar. Die Beschaffung von Rohstoffen machte einen erheblichen Teil dieser Kosten aus.

Zutatenkategorie	Jährliche Beschaffungskosten
Körner	287,5 Millionen US-Dollar
Milchprodukte	214,3 Millionen US-Dollar
Gewürze und Gewürze	98,6 Millionen US-Dollar

Herstellungs- und Produktionskosten

Die Herstellungskosten für B&G Foods beliefen sich im Jahr 2023 auf insgesamt 356,4 Millionen US-Dollar.

• Arbeitskosten in der Fabrik: 142,5 Millionen US-Dollar
• Gerätewartung: 67,2 Millionen US-Dollar
• Nebenkosten: 53,8 Millionen US-Dollar
• Gemeinkosten der Produktionsanlage: 92,9 Millionen US-Dollar

Marketing- und Werbeinvestitionen

B&G Foods stellte im Jahr 2023 98,3 Millionen US-Dollar für Marketing- und Werbeausgaben bereit.

Marketingkanal	Investition
Digitale Werbung	42,6 Millionen US-Dollar
Traditionelle Medien	35,7 Millionen US-Dollar
Werbeveranstaltungen	20,0 Millionen US-Dollar

Vertriebs- und Logistikausgaben

Die Vertriebskosten für B&G Foods beliefen sich im Jahr 2023 auf 187,5 Millionen US-Dollar.

• Transportkosten: 112,3 Millionen US-Dollar
• Lagerbetrieb: 45,2 Millionen US-Dollar
• Verpackungsmaterialien: 30,0 Millionen US-Dollar

Forschungs- und Entwicklungsinvestitionen

Die Forschungs- und Entwicklungsausgaben für B&G Foods beliefen sich im Jahr 2023 auf 24,6 Millionen US-Dollar.

F&E-Schwerpunktbereich	Investition
Produktinnovation	15,3 Millionen US-Dollar
Verpackungstechnik	6,2 Millionen US-Dollar
Zutatenentwicklung	3,1 Millionen US-Dollar

B&G Foods, Inc. (BGS) – Geschäftsmodell: Einnahmequellen

Einzelhandelsverkauf von verpackten Lebensmitteln

B&G Foods meldete für das Geschäftsjahr 2022 einen Nettoumsatz von 1,53 Milliarden US-Dollar. Zu den wichtigsten Produktkategorien für den Einzelhandel gehören:

Produktkategorie	Jahresumsatz ($)
Gefrorenes Gemüse	352 Millionen Dollar
Gewürze & Saucen	287 Millionen Dollar
Snackprodukte	218 Millionen Dollar

Einnahmen aus dem Großhandelsvertrieb

Der Großhandelsvertrieb machte im Jahr 2022 etwa 45 % des Gesamtumsatzes aus, was 688,5 Millionen US-Dollar entspricht.

• Zu den wichtigsten Großhandelskanälen zählen Lebensmittelketten
• Großverkauf an Lebensmitteldienstleister
• Institutionelle Lebensmittelvertriebsnetzwerke

Private-Label-Herstellungsverträge

Die Herstellung von Handelsmarken erwirtschaftete im Geschäftsjahr 2022 einen Umsatz von 213 Millionen US-Dollar.

Vertragstyp	Umsatzbeteiligung
Marken von Lebensmittelgeschäften	62%
Fachhändler für Lebensmittel	28%
Online-Händler	10%

Online-Direktvertrieb

Der Online-Direktverkaufsumsatz belief sich im Jahr 2022 auf 97,6 Millionen US-Dollar, was 6,4 % des Gesamtumsatzes des Unternehmens entspricht.

Exportverkäufe auf internationalen Märkten

Der internationale Marktumsatz belief sich im Jahr 2022 auf insgesamt 76,2 Millionen US-Dollar. Zu den wichtigsten Exportmärkten zählen:

• Kanada: 38,1 Millionen US-Dollar
• Mexiko: 22,5 Millionen US-Dollar
• Andere internationale Märkte: 15,6 Millionen US-Dollar

B&G Foods, Inc. (BGS) - Canvas Business Model: Value Propositions

You're looking at the core reasons why consumers still reach for B&G Foods, Inc. (BGS) products, even as the company navigates significant portfolio reshaping. The value proposition centers on reliability, familiarity, and accessibility in the pantry.

Convenience and speed for consumers via shelf-stable and frozen products

B&G Foods, Inc. continues to serve consumers with a broad range of shelf-stable and frozen foods distributed across the United States, Canada, and Puerto Rico. This format inherently offers convenience, requiring minimal preparation time for everyday meals. While the company has been actively divesting certain businesses, like the U.S. Green Giant shelf-stable line and Green Giant Canada, the remaining core portfolio is built on these convenient formats. The full-year fiscal 2025 net sales guidance is narrowed to a range of $1.82 billion to $1.84 billion, reflecting the impact of these divestitures but maintaining a focus on the core convenience offering.

Trusted, recognizable heritage brands with long-standing consumer loyalty

The strength of B&G Foods, Inc. lies heavily in the deep consumer trust built over decades by its established brands. These are the names people look for when they want consistency. The portfolio includes many well-known staples that anchor consumer purchasing decisions. For instance, the Meals segment features brands like Ortega, a market leader in Mexican-style foods, and Cream of Wheat. The Specialty segment includes Crisco cooking oils and Polaner fruit spreads. This familiarity is a significant moat against newer entrants, even when facing volume challenges, as seen in the Q3 2025 base business net sales decline of only 2.7% excluding divestitures.

Diverse product portfolio offering one-stop-shop for multiple meal occasions

The company's portfolio spans several key food categories, allowing it to capture consumer spending across various meal times and needs. This diversity, even post-divestiture, is a key proposition. For example, in fiscal 2024, the portfolio was spread across four main segments, indicating a broad reach into the center store. The company's long-term strategic goal, following divestitures, is to achieve an adjusted EBITDA as a percentage of net sales approaching 20%, suggesting a focus on higher-margin, core lines that still cover multiple occasions.

Here's a look at the segment revenue distribution from fiscal 2024, which illustrates the breadth of the portfolio prior to recent sales:

Segment	FY 2024 Revenue Percentage
Specialty	32%
Meals	25%
Frozen & Vegetables	22%
Spices & Flavor Solutions	21%

Value-oriented pricing in a high-inflation environment for core staples

In an environment where consumers are sensitive to inflation, B&G Foods, Inc. offers core staples that provide perceived value. Management noted that consumption trends decelerated due to continued inflation sensitivity among consumers. The company has been managing this by using targeted pricing where appropriate and working to lap prior year's promotional activity. For example, in Q2 2025, the overall gross profit percentage was 20.5% of net sales, with adjusted gross profit at 21% of net sales. The company expects the second half of fiscal 2025 to show year-over-year growth in adjusted EBITDA, supported by cost savings initiatives, which helps maintain competitive shelf prices.

Quality and flavor solutions through the Spices & Flavor Solutions segment

The Spices & Flavor Solutions segment delivers quality and flavor enhancement, a critical component for at-home cooking. This segment saw material increases in commodity costs in 2025, particularly for black pepper and garlic, but management is addressing this through productivity initiatives in the factory and targeted pricing. In Q1 2025, this segment generated net sales of $91.7 million, a 4% decrease from the prior year, primarily due to softer volumes. This segment represented 21% of total revenue in fiscal 2024, highlighting its importance to the overall portfolio mix.

The segment's performance in Q3 2025 saw adjusted EBITDA of $70.41 million for the entire company, with an adjusted EBITDA margin of 16%, showing management's focus on profitability even amid volume softness.

• Q3 2025 Adjusted EBITDA: $70.4 million
• Q1 2025 Spices & Flavor Solutions Net Sales: $91.7 million
• FY 2025 Adjusted EBITDA Guidance Midpoint: $276.5 million

Finance: draft 13-week cash view by Friday.

B&G Foods, Inc. (BGS) - Canvas Business Model: Customer Relationships

B&G Foods, Inc. interacts with a broad base of customers across the United States, Canada, and Puerto Rico, serving retail grocery chains, mass merchandisers, club stores, and e-commerce platforms. The company also supplies foodservice outlets.

The relationship with major retail buyers is fundamentally transactional and high-volume, underpinning the company's top line. For the third quarter of 2025, net sales reached $439.3 million. The full-year fiscal 2025 net sales guidance was narrowed to a range of $1.82 billion to $1.84 billion.

For larger, more strategic customers, particularly within foodservice and private label agreements, B&G Foods deploys dedicated sales and account management resources. The company competes across several channels, including retail grocery, food service, specialty store, private label, club, and mass merchandiser distribution.

Interaction with the end consumer is largely indirect, relying on self-service purchasing through traditional retail shelf placement and increasingly, via e-commerce platforms. The foundation of this indirect relationship is brand-specific loyalty, which B&G Foods builds upon its diverse portfolio of over 50+ brands.

Investor relations communication centers on clear, actionable financial priorities, which directly impact the long-term health of the customer-facing business. Key themes include reshaping the portfolio to achieve higher margins and cash flows, and aggressively reducing leverage. The company has a stated long-term objective for base business net sales trends of plus 1%.

The focus on portfolio reshaping is evident in recent divestitures, such as Don Pepino, Sclafani, and Le Sueur U.S., and the announced sale of Green Giant Canada. The endgame of these actions is to create a more focused B&G Foods where Adjusted EBITDA as a percentage of net sales approaches 20%, and leverage moves closer to 5x. Progress on debt reduction is tangible; net debt was reduced to $1.957 billion at the end of the second quarter of 2025, down from $2.022 billion at the end of the second quarter of 2024.

Here's a quick look at the scale of operations and performance driving these customer-facing strategies for the 2025 fiscal year:

Metric	Q3 2025 Actual	FY 2025 Narrowed Guidance Range
Net Sales	$439.3 million	$1.82 billion to $1.84 billion
Adjusted EBITDA	$70.4 million	$273.0 million to $280.0 million
Adjusted EBITDA Margin (% of Sales)	16.0%	Long-term goal approaching 20%
Net Debt (End Q2 2025)	$1.957 billion	Target leverage closer to 5x

The company also emphasizes returning a meaningful portion of its excess cash to stockholders, having returned $1.50 billion since 2004.

The customer relationship strategy is supported by the breadth of the brand portfolio, which includes:

• Brands in the Specialty unit like Crisco and Clabber Girl.
• Brands in the Meals unit such as Ortega and Maple Grove Farms.
• The Frozen & Vegetables unit, which is currently being reshaped.

The Q3 2025 Adjusted EBITDA margin was 16.0% of net sales, showing sequential improvement from Q2 2025's 13.7%.

Finance: draft 13-week cash view by Friday.

B&G Foods, Inc. (BGS) - Canvas Business Model: Channels

You're looking at how B&G Foods, Inc. gets its products-from Ortega taco kits to Crisco oil-into the hands of the consumer as of late 2025. The distribution network is broad, relying heavily on established retail partnerships, though the company is actively reshaping its portfolio, which impacts channel focus.

B&G Foods, Inc. sells, markets, and distributes its portfolio of over 50 brands across the United States, Canada, and Puerto Rico using a multi-channel system. The sales organization is structured around these distribution channels, utilizing regional sales managers and key account managers.

Here's a breakdown of the key channels B&G Foods, Inc. utilizes to move product:

• Supermarket chains and grocery stores (primary route to market)
• Mass merchants and warehouse clubs (high-volume retail)
• Foodservice outlets (catering to institutional and restaurant demand)
• E-commerce platforms and direct-to-consumer (DTC) channels
• Independent brokers and specialty distributors for niche markets

The company sells its products primarily through broker sales networks to reach these various retail and foodservice partners. For instance, the broker sales network manages the actual sales execution at the retail level nationwide.

The overall financial context for these channels in fiscal year 2025 shows a company navigating a challenging environment. The revised full-year net sales guidance for fiscal year 2025 is between $1.83 billion and $1.88 billion. For the third quarter of 2025 alone, net sales were $439.3 million.

The performance across channels in late 2025 was mixed. For example, in the third quarter of 2025, management noted continued strength in specific channels like club and foodservice, even as overall base business net sales were down 2.7% excluding divestitures.

Here is a table summarizing the channel structure and related financial context, using the most granular data available:

Channel Category	Primary Role/Description	Relevant 2025 Financial Data Point
Supermarket chains and grocery stores	Handles the bulk of traditional grocery sales through national and regional brokers.	Base business net sales declined year-over-year in Q3 2025, though sequential trends improved.
Mass merchants and warehouse clubs	High-volume retail outlets; noted as a channel with continued strength in Q3 2025.	Noted as a channel with continued strength in Q3 2025.
Foodservice outlets	Catering to institutional and restaurant demand.	Experienced a decline in Q2 2025, but was noted as a channel with continued strength in Q3 2025.
E-commerce platforms and DTC	Includes sales to e-tailers; a growing area for the food industry.	Part of the broader system that includes sales to 'e-tailers.'
Independent brokers and specialty distributors	Serves specialty food distributors, military commissaries, and non-food outlets (like dollar stores).	The primary method for selling products to retail and foodservice partners is through broker sales networks.
Overall Company Context	Total expected revenue flow through all channels for the full year.	Full Year 2025 Net Sales Guidance: $1.83 billion to $1.88 billion.

The company is actively streamlining its portfolio, which directly impacts the revenue contribution of these channels. For instance, the divestiture of the Le Sueur U.S. brand in August 2025 removed approximately $36 million in trailing twelve-month net sales through the channels it served. Also, the Spices and Flavor Solutions segment, which flows through these channels, represented 20% of fiscal 2024 revenues, showing a key area of focus.

The strategy involves creating a more focused B&G Foods, Inc. that management believes will lead to adjusted EBITDA as a percentage of net sales approaching 20%, which is a key metric reflecting the efficiency of these channel operations.

You should track the Q4 2025 results to see the full impact of the 53rd week, which is expected to contribute 2-3% growth in that quarter, flowing through these established routes to market.

B&G Foods, Inc. (BGS) - Canvas Business Model: Customer Segments

You're looking at the core buyers for B&G Foods, Inc. as they navigate portfolio streamlining and focus on core brands through late 2025. The customer base is broad, spanning from the typical grocery shopper to large commercial operations.

The primary market for B&G Foods, Inc. remains the everyday consumer across North America. This group relies on the company for their pantry staples, seeking convenience and reliability in shelf-stable and frozen food options.

A significant portion of the customer base is defined by their price sensitivity. These are value-conscious consumers who prefer established, non-premium brands that offer consistent quality without a high price tag. This focus is critical as the company works to stabilize volume trends following periods of high inflation.

The commercial side of the business is substantial, involving foodservice operators and institutional buyers. Collectively, these customers represent a required segment of 21%-22% of B&G Foods, Inc.'s total sales. For fiscal year 2025, with net sales guidance narrowed to a range of $1.82 billion to $1.84 billion, this segment contributes roughly $382 million to $405 million in revenue.

The distribution network itself is a key customer group, consisting of retailers and distributors. B&G Foods, Inc. services these partners across the United States, Canada, and Puerto Rico. Management has noted that retailer inventory reduction has been a factor impacting sales, suggesting these partners are actively managing their stock levels.

Finally, specialized commercial and home users drive demand for specific ingredient brands. Bakers and home cooks depend on iconic ingredients like Crisco and Clabber Girl for their recipes. Crisco, for example, saw sales impacted by pricing adjustments reflecting lower soybean oil input costs in recent quarters.

Here's a quick look at the main customer categories and their context:

Customer Segment	Primary Product Association	Geographic Scope	Financial/Statistical Data Point
North American Households	Shelf-stable and frozen food staples	North America	Fiscal 2025 Net Sales Guidance: $1.82 billion to $1.84 billion
Value-Conscious Consumers	Established, non-premium brands	United States, Canada, Puerto Rico	Focus on stabilizing consumption trends in H2 FY2025
Foodservice Operators & Institutional Buyers	Broad portfolio, including Spices & Flavor Solutions	United States, Canada, Puerto Rico	Represents 21%-22% of collective sales
Retailers and Distributors	Full B&G Foods, Inc. portfolio	United States, Canada, Puerto Rico	Recent impact from customer inventory deloading
Bakers and Home Cooks	Crisco, Clabber Girl	United States	Crisco sales impacted by commodity pricing models

You can see the company is actively managing its customer relationships, especially with retailers, while continuing to serve its core household base. The focus on portfolio reshaping, including the announced sale of Green Giant Canada, is defintely aimed at creating a more stable platform for these customer segments going forward.

• Value-conscious buyers drive volume in center-store packaged foods.
• Institutional sales are a material part of the revenue base.
• The company markets products under brands like Ortega and Cream of Wheat.
• Portfolio streamlining aims for an Adjusted EBITDA margin approaching 20%.

Finance: draft 13-week cash view by Friday.

B&G Foods, Inc. (BGS) - Canvas Business Model: Cost Structure

The Cost Structure for B&G Foods, Inc. is heavily influenced by the inherent costs of food manufacturing and distribution, though recent portfolio streamlining efforts aim to improve efficiency. You see the pressure points clearly in the recent quarterly reports.

The cost of goods sold (COGS) remains a dominant factor, as evidenced by the gross profit margin. For the third quarter of 2025, B&G Foods, Inc. reported a gross profit of $99.0 million on net sales of $439.3 million, resulting in a gross profit margin of 22.5% of net sales. This margin, while slightly up from 22.2% in Q3 2024, still reflects the significant portion of revenue consumed by production costs.

Financing costs are also a material component of the structure due to the company's debt load. For the second quarter of 2025, the net interest expense was reported at $35.8 million. The company has been actively using proceeds from divestitures to reduce this debt, which helped lower Q3 2025 net interest expense to $37.3 million from $42.2 million in Q3 2024.

Input costs for raw materials and packaging present a persistent challenge, though the impact varies by segment. For instance, the Spices & Flavor Solutions business unit saw adjusted EBITDA decline due to higher raw material costs, specifically mentioning increases for garlic and black pepper. Conversely, in Q2 2025, the Specialty segment benefited from lower raw material costs for certain brands, including soybean oil for Crisco, and phosphates, and cornstarch for Clabberg Girl.

The Selling, General, and Administrative (SG&A) expenses are being actively managed through cost-saving initiatives. In the third quarter of 2025, SG&A expenses totaled $44.6 million, representing a 3.0% decrease year-over-year from $46 million in Q3 2024. As a percentage of net sales, this was 10.2% in Q3 2025, a slight increase from 10.0% in the prior year period.

External factors like trade policy and currency fluctuations add volatility to the cost base. The impact of tariffs and foreign exchange volatility negatively impacted Q3 2025 EBITDA by nearly $3.5 million, as per the required outline point. Year-to-date tariff impact for the first three quarters of 2025 totaled a negative $5.1 million. Foreign currency negatively impacted base business net sales by $2.8 million for the first three quarters of 2025.

Here's a breakdown of key cost-related metrics from the recent quarters:

Metric	Q3 2025 Amount/Rate	Q2 2025 Amount/Rate
Gross Profit Margin	22.5% of Net Sales	N/A
Net Interest Expense	$37.3 million (Q3 2025)	$35.8 million
SG&A Expenses	$44.6 million	N/A
Tariff/FX Impact on EBITDA (Q3 Est.)	Nearly $3.5 million negative impact	Approx. $1 million negative impact (Tariffs on Spices & Flavor Solutions)

B&G Foods, Inc. is pursuing several actions to mitigate these costs and improve the structure:

• Implementing a back-half $10 million cost savings initiative for Q3 and Q4 2025.
• Targeting an annual run rate of $15 million to $20 million in savings from productivity in COGS and accelerated SG&A savings.
• Portfolio simplification through divestitures, aiming for adjusted EBITDA as a percentage of net sales approaching 20%.
• Targeted pricing actions to recover incremental tariff costs, with full mitigation expected in Q4 2025.

B&G Foods, Inc. (BGS) - Canvas Business Model: Revenue Streams

You're looking at how B&G Foods, Inc. brings in its money, which is primarily through selling its portfolio of branded shelf-stable and frozen food products. This is the core of their operation, covering everything from Green Giant vegetables to spices and baking aids.

For the full year fiscal 2025, B&G Foods, Inc. has narrowed its net sales guidance to be between $1.82 billion and $1.84 billion. This guidance reflects the ongoing strategic reshaping of the portfolio, which includes recent sales of non-core assets.

The company evaluates its operating performance across four main segments. Here's a look at some of the reported figures from earlier in the year to give you a sense of the revenue flow:

Segment	Q1 2025 Net Sales (Reported)	Q1 2025 Performance Note
Specialty	$134.4 million	Net sales decreased in the aggregate.
Meals	$106.1 million	Net sales decreased by 11.6% year-over-year.
Frozen & Vegetables	Implied in total sales	Segment adjusted EBITDA declined by $6.5 million in Q2 2025.
Spices & Flavor Solutions	Implied in total sales	Adjusted EBITDA decreased by $2.4 million or 8.4% in Q1 2025.

The company's revenue generation isn't just from the main retail shelf. A meaningful portion comes from other channels, specifically foodservice and private label operations. These channels collectively account for about 21%-22% of total sales, and management noted that these areas performed reasonably well during the first quarter of 2025.

A key part of B&G Foods, Inc.'s current financial strategy involves generating proceeds from strategic divestitures of non-core brands to sharpen focus and reduce long-term debt. You can see this activity in the recent past:

• Completed sale of the Don Pepino and Sclafani brands in May 2025.
• Divested the Le Sueur U.S. shelf-stable vegetable product line in August 2025.
• Announced an agreement to sell the Green Giant and Le Sieur frozen and shelf-stable vegetable product lines in Canada in October 2025.

These divestitures had a measurable impact on reported numbers; for instance, the removal of Don Pepino, Sclafani, and Le Sueur accounted for approximately $10.3 million of net sales removed from the third quarter results. The company is definitely streamlining its brand lineup. Finance: draft 13-week cash view by Friday.