PARSIPPANY, NJ – B&G Foods, Inc., is exiting its processing plant in Portland, Maine, and selling it to the Institute for Digital Engineering and Life Sciences. The manufacturing of B&M, Underwood and other brands will shift to existing B&G Foods plants and third-party co-manufacturers.
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, according to the company. The plant employed approximately 86.
“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 it is in the best interest for the future of Portland,” said Casey Keller, president and chief executive officer of B&G Foods.
During the third and fourth quarters of fiscal 2021, B&G Foods expects to record cash and non-cash charges relating to a multi-employer pension plan withdrawal liability, employee severance and other employee costs, the write off of equipment and other assets, and other fees, costs and expenses related to the plant closing. Some of the costs are expected to be offset by the sale of the property, which was not disclosed.