Nortera and B&G Foods scrap the Green Giant Canada sale after the Competition Bureau moved to block it

Nortera Foods has abandoned its plan to buy the Green Giant and Le Sieur vegetable brands in Canada from B&G Foods, weeks after the Competition Bureau asked the Competition Tribunal to block the deal. The two companies said they terminated their asset purchase agreement on Oct. 5 because approval under the Competition Act had not been obtained by the agreement’s Sept. 24, 2026, outside date, according to a joint announcement. Either party was entitled to walk away once that deadline passed.

“We are pleased that a merger, which our investigation found was likely to harm competition, will not move forward,” Interim Commissioner of Competition Jeanne Pratt said in a statement on Tuesday. She said the bureau concluded the acquisition was likely to lead to higher prices and fewer choices in the wholesale supply of certain canned and frozen vegetables in Canada. “Canned and frozen vegetables are everyday grocery staples that Canadians rely on,” Pratt said, adding that the bureau will keep closely reviewing mergers that may harm competition.

Nortera, which is based in Quebec, processes and sells canned and frozen vegetables under brands including Del Monte and Arctic Gardens, and has been the exclusive producer of Green Giant and Le Sieur in Canada for 30 years, The Canadian Press reported. It agreed in October 2025 to buy the brands outright from New Jersey-based B&G. The purchase agreement was dated Oct. 24, 2025, and its price was never disclosed, Food Processing magazine reported. The products in question include freezer staples such as corn and peas, CP said.

When it went to the tribunal on Aug. 19, the bureau said Nortera was already Canada’s dominant processor of certain canned and frozen vegetables and that the deal would combine it with its only major national brand competitor in an already highly concentrated market, according to its announcement. It also asked the tribunal to stop the companies from closing until a decision was issued. In a backgrounder, the bureau said Nortera and B&G compete to supply grocery retailers on price, promotions and shelf space, that foreign suppliers were unlikely to offer enough competitive pressure to make up for the loss, and that some smaller retailers rely heavily on branded products. It also cited high barriers to entry, including the investment needed in processing plants, access to vegetables and brand recognition.

Under the agreement, Nortera will pay B&G US$1.6 million, made up of a contractually required termination fee and reimbursement of part of B&G’s legal expenses, according to a Form 8-K that B&G filed with the U.S. Securities and Exchange Commission on Oct. 6. B&G will continue to own and operate Green Giant Canada, while Nortera will remain its primary co-manufacturer.

“Although we are disappointed that the transaction was not completed before the outside date, we remain highly confident in Green Giant Canada’s future,” said Robert D. Mills, B&G’s president and chief executive. He said Green Giant is the top brand in both frozen and shelf-stable vegetables in Canada and that B&G will keep evaluating options for the business, “including potential sale transactions, strategic partnerships or other opportunities that may maximize value for shareholders.”

Erwan Hédiard, Nortera’s interim chief executive and chief financial officer, said the company “remains fully committed to vegetable production and processing in Canada and to the long-term strength of our industry.” Nortera describes itself as North America’s leading processor of frozen and canned vegetables, with 11 facilities in Canada and the United States, more than 400,000 tonnes of vegetables processed each year with about 575 growing partners, and nearly 3,000 employees.

The bureau cast the outcome as a win for competition in Canada’s food sector. Preserving competition in canned and frozen vegetables matters because it leads to lower prices and keeps a variety of products on grocery shelves, Pratt said, and the bureau said its enforcement aims to ensure Canadians are not harmed through higher prices or reduced product choice. The final say in the case would have rested with the Competition Tribunal, which hears cases under the Competition Act.

Sources: Competition Bureau statement (Oct. 6, 2026); B&G Foods and Nortera Foods announcement (Oct. 6, 2026); B&G Foods Form 8-K via StockTitan; The Canadian Press via Winnipeg Free Press; Food Processing; Competition Bureau news release (Aug. 19, 2026); Competition Bureau backgrounder (Aug. 19, 2026).