What B&G Foods, Inc. told the SEC could break it.

The Green Giant frozen-vegetable manufacturing facility in Irapuato, Mexico sits in a region affected by water scarcity and usage restrictions, threatening production continuity.

“Our Green Giant frozen vegetable manufacturing facility in Irapuato, Mexico is located in a region affected by water scarcity and restrictions on usage.”

A significant majority of maple syrup requirements are sourced from suppliers in Québec, Canada — concentrating a key input in one region that is susceptible to severe freezing conditions and Canadian-dollar/tariff exposure.

“We also purchase certain raw materials from foreign suppliers. For example, we purchase a significant majority of our maple syrup requirements from suppliers in Québec, Canada.”

B&G carries substantial high-coupon debt, including $800 million of 8.00% senior secured notes due 2028 (plus 5.25% notes due 2027), exposing it to refinancing and interest-cost risk.

“On September 26, 2023, we issued $ 550.0 million aggregate principal amount of 8.00 % senior secured notes due 2028 at a price of 99.502 %. On July 12, 2024, we issued an additional $ 250.0 million aggregate principal amount of 8.00 % senior secured notes due 2028 at a price to the public 100.5 % of their face value plus accrued interest from March 15, 2024 to, but excluding, July 12, 2024.”

As an importer of raw materials (e.g. Canadian maple syrup) with Mexican manufacturing, B&G is exposed to evolving U.S. tariffs on Canada, Mexico and China imports plus steel/aluminum duties — a dynamic, litigated policy area.

“For example, on February 1, 2025, the White House announced the imposition of tariffs of up to 25% on imports from Canada and Mexico and 10% on imports from China, and those countries subsequently announced retaliatory tariffs in response.”