Canada’s Competition Bureau has asked the Competition Tribunal to stop Nortera Foods' planned purchase of B&G Foods' Green Giant and Le Sieur vegetable business in Canada. The Bureau said its investigation found the proposed transaction would weaken competition and likely lead to higher prices and fewer choices for staple items at the grocery store. It also asked the Tribunal to prevent the companies from closing the deal until a decision is issued. B&G Foods announced in October it was selling the Canadian businesses to Nortera as part of an effort to divest non-pivotal brands and reduce long-term debt. Nortera said it is reviewing the Bureau's position and remains in talks with B&G Foods regarding next steps.
B&G Foods IncCompetition Bureau seeks to block sale of Green Giant and Le Sieur Canadian business, potentially preventing divestiture and debt reduction.
Competition Bureau seeks to block acquisition, citing weakened competition and higher prices, which could halt the deal.
