The company said that it plans to move manufacturing operations of B&M, Underwood -- which makes a line of canned products including baked beans -- and certain other brands to third-party co-manufacturing facilities and other 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, said the company in a statement.
The century-old manufacturing plant will become future home and campus for Northeastern University's The Roux Institute, the university's tech and innovation program.
The closing will impact 86 B&G employees working at Portland's manufacturing facility. B&G Foods said it has put in place a plan to offer all eligible employees severance and career transition support.
“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... 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," said Casey Keller, president and CEO of B&G Foods.
B&G Foods stated that it 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.