- B&G Foods will about double the marketing spend for Green Giant as compared to the investment made for the brand by General Mills, up to $32 million from $15 million to $16 million, according to B&G president and CEO Robert Cantwell at the the ICR Conference in Orlando, FL, earlier this week..
- Innovation for the brand has stagnated, though B&G Foods feels confident about turning that around, Cantwell said. Green Giant hasn't been feeling pressure from its competition over the past few years.
- B&G Foods will focus on regaining shelf space lost on the frozen food aisle more than shelf stable products, which have lost little space in recent years, comparable to other major manufacturers.
B&G Foods acquired seven companies in the past three years, but Cantwell said the company is particularly enthusiastic about prospects for Green Giant as it is already an "iconic brand."
Green Giant's new parent company faces a challenge on the frozen foods front, as that category's growth has stalled recently. Frozen food sales increased by less than 1% on average for the past four years, and sales by unit decreased 2%, according to Nielsen data The New York Times reported in 2015.
B&G Foods acquired Green Giant along with Le Sueur from General Mills in September for $765 million.