Planned successor will replace longtime leader.

Ferrero Group also mentioned as possible bidder for the unit.

Cantwell: ‘It was time to move on from snacks.’

Business will operate as part of the Amplify snacking unit.

Brands in the Pirate Brands business include Pirate’s Booty, Smart Puffs and Original Tings.

B&G Foods, TreeHouse and Dean Foods especially vulnerable, Credit Suisse says.

B&G Foods looks to expand brand beyond frozen vegetables.

Company leaders identify the challenges of maintaining a No. 1 or 2 brand position in competitive categories.

Canned business declines on distribution loss.

Will complement Cream of Wheat hot cereal brand.