B&G Foods Announces Sale of B&M Portland Property by End of Year


B&G Foods, Inc. has announced that it has reached an agreement to sell its Portland manufacturing facility and 13.5 acre waterfront property to the Institute for Digital Engineering Life Science.  B&G Foods plans to move B&M  manufacturing operations and certain other brands to third-party co-manufacturing facilities and existing B&G Foods manufacturing facilities.  The decision to close the Portland manufacturing facility which is more than 100 years old, is consistent with B&G Foods ongoing efforts to improve productivity and reduce overall costs.

The Portland property will become the future home of The Roux Institute and Northeastern University on a campus that will include partner companies, housing and other amenities.  The B&M manufacturing building will become the anchor of The Roux Campus, providing an incubator lab and office space for start-up companies.  The Campus will be built in phases over a decade or more and will include coastal restoration to open waterfront areas to the public.

“The Portland community has been the home to B&M for more than a century and while this was a very difficult decision, we believe that it is in the best interest for the future of Portland.  We are confident The Roux Institute will build a new longstanding legacy on the property, one that will enrich Portland residents in new and exciting ways and will endure as a force for good in the community for generations to come,” said Casey Keller, President and Chief Executive Officer of B&G Foods in a press release.  “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.”

There are approximately 86 employees in the Portland manufacturing facility.  B&G Foods has put in place a plan to offer all eligible employees severance and career transition support.  In addition, The Roux Institute plans to support them through its portfolio of capabilities, including career connections with Maine employers, educational opportunities with academic partners and possible student pathways into Northeastern University and The Roux Institute itself.

B&G Foods does not anticipate any disruption in production or the delivery of customer orders relating to the transition of manufacturing operations, which is expected to be completed during the fourth quarter of 2021 or the first quarter of 2022.  The sale, which is subject to customary closing conditions, is expected to close by year end.