Form 8-K B&G Foods, Inc. For: Nov 14

�

As filed with the Securities and Exchange Commission on November�17, 2014

�

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

�

�

FORM�8-K

�

CURRENT REPORT

Pursuant to Section�13 or 15(d)�of the

Securities Exchange Act of 1934

�

Date of report (Date of earliest event reported):� November�14, 2014

�

�

B&G Foods,�Inc.

(Exact name of Registrant as specified in its charter)

�

�

�

Registrant�s telephone number, including area code:� (973) 401-6500

�

Check the appropriate box below if the Form�8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule�425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule�14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule�14d-2(b)�under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule�13e-4(c)�under the Exchange Act (17 CFR 240.13e-4(c))

�

�

�

Item 7.01.� Regulation FD Disclosure.

Item 8.01.� Other Events.

�

On November 14, 2014, B&G Foods, Inc. issued a press release announcing that we have initiated a voluntary recall of certain Ortega Taco Seasoning Mix, Ortega Taco Sauce, Ortega Enchilada Sauce and Ortega Taco Kit products and certain Las�Palmas Taco Seasoning Mix and Las Palmas Taco Sauce products.� The information contained in the press release, which is attached to this report as Exhibit 99.1, is incorporated by reference herein and is furnished pursuant to Item 7.01, �Regulation FD Disclosure� and Item 8.01, �Other Events.�

�

B&G Foods initiated the voluntary recall of the products listed above and in the attached press release after learning that one or more of the spice ingredients purchased from a third party supplier contained peanuts and almonds, allergens that are not declared on the products� ingredient statements.� People who have an allergy or severe sensitivity to peanuts and almonds run the risk of serious or life-threatening allergic reaction if they consume these products. There is no health risk associated with these products for individuals without an allergy to peanuts or almonds.

�

Although it is too early to ascertain the total cost of the recall, we currently expect to record costs associated with the recall of approximately $12 million in the fourth quarter of 2014.� B&G Foods will also incur at least some additional costs in future quarters. We expect to reverse the charges for any portion of such costs that are recovered from our existing insurance policies and from the third-party supplier of the contaminated spice ingredients.� Any such recovery will be recorded in the period in which such recovery is determined to be probable.

�

While it is too soon to predict the impact of this recall on B&G Foods� net sales, net sales of the products affected by the recall will be reduced for the fourth quarter of fiscal 2014.

�

The safety of our consumers is our number one priority and we are taking the appropriate steps to prevent this from happening again.� All of our ingredients and products are subject to our stringent food safety and quality assurance systems.� We are committed to ensuring that all of the products we sell are safe and meet the highest quality standards.� We have terminated our relationship with the supplier that provided the contaminated ingredients and are receiving these ingredients from other sources in anticipation of resuming production and distribution shortly.

�

Forward-Looking Statements

�

Statements in this report that are not statements of historical or current fact constitute �forward-looking statements.�� The forward-looking statements contained in this report include, without limitation, statements related to the financial impact of the recall, including, the cost of the recall and the recall�s impact on our net sales; our ability to recover costs from our insurance carriers or the third-party supplier of the contaminated spice ingredients; the timing of future production and distribution of the products; and our ability to prevent future recalls.� Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of B&G Foods to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.� In addition to statements that explicitly describe such risks and uncertainties readers are urged to consider statements labeled with the terms �believes,� �belief,� �expects,� �projects,� �intends,� �anticipates� or �plans� to be uncertain and forward-looking. The forward-looking statements contained in this report are also subject generally to other risks and

�

2

�

uncertainties that are described from time to time in B&G Foods� filings with the Securities and Exchange Commission, including under Item 1A, �Risk Factors� in our most recent Annual Report on Form�10-K and in our subsequent reports on Forms�10-Q and 8-K.� Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made.� B&G Foods undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

�

Item 9.01.� Financial Statements and Exhibits.

�

(d)���������� Exhibits.

�

�

3

�

SIGNATURE

�

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

�

�

�

4

Exhibit�99.1

�

�

B&G FOODS�ISSUES ALLERGY ALERT ON UNDECLARED�PEANUT AND ALMOND�IN�PRODUCT

�

PARSIPPANY, N.J., November�14, 2014 � B&G Foods announced today it is voluntarily recalling certain Ortega Taco Seasoning Mix, Ortega Taco Sauce, Ortega Enchilada Sauce and Ortega Taco Kit products and certain Las Palmas Taco Seasoning Mix and Las Palmas Taco Sauce products after learning that one or more of the spice ingredients purchased from a third party supplier contain peanuts and almonds, allergens that are not declared on the products� ingredient statements. People who have an allergy or severe sensitivity to peanuts and almonds run the risk of serious or life-threatening allergic reaction if they consume these products.� There is no health risk associated with these products for individuals without an allergy to peanuts or almonds.

�

This recall affects the following products:

�

�

The recalled products were distributed in retail stores and foodservice outlets nationwide.

�

This recall does not apply to any other sizes or varieties of Ortega Seasoning Mix or to any Ortega Seasoning Mixes in canisters, all of which are correctly labeled.� For example, this recall does not include

�

�

Ortega�Fajita Seasoning Mix, Ortega�Fish�Taco Seasoning Mix, Ortega�Chili Seasoning Mix, Ortega Chipotle Seasoning Mix or Ortega Burrito Seasoning Mix, all of which are correctly labeled.� This recall also does not include any Las Palmas Enchilada Sauce, which is correctly labeled.

�

�The safety of our consumers is our number one priority.� We are committed to providing safe, quality products while observing the highest ethical standards in the conduct of our business,� said William Wright, Executive Vice President of Quality Assurance and R&D at B&G Foods.� �The core values that we�ve embodied since the company was founded in the 1800s � honesty, integrity and accountability � guide our actions as we take the appropriate measures to address this issue.�

�

This recall was initiated in consultation with the FDA after it was discovered that ingredients from a single supplier used in the affected products were contaminated with peanut and almond allergens. B&G�Foods has since terminated its relationship with this supplier and is receiving these ingredients from other sources in anticipation of resuming production shortly.

�

Consumers who have purchased the recalled products are urged to return them to the place of purchase for a full refund.� Consumers with questions may contact the company�s recall hotline at 877-929-2576 from 8:00�a.m. ET to 8:00�p.m. ET, or visit www.ortega.com for additional information.

�

About B&G Foods

�

B&G�Foods,�Inc. (NYSE: BGS) and its subsidiaries manufacture, sell and distribute a diversified portfolio of high-quality, branded shelf-stable foods across the United States, Canada and Puerto Rico.� Based in Parsippany, New�Jersey, B&G�Foods� products are marketed under many recognized brands, including Ac�cent, B&G, B&M, Baker�s�Joy, Bear Creek Country Kitchens, Brer Rabbit, Canoleo, Cary�s, Cream�of�Rice, Cream�of Wheat, Devonsheer, Don Pepino, Emeril�s, Grandma�s�Molasses, JJ�Flats, Joan�of�Arc, Las Palmas, MacDonald�s, Maple�Grove�Farms, Molly McButter, Mrs.�Dash, New�York�Flatbreads, New�York Style, Old�London, Original Tings, Ortega, Pirate�s Booty, Polaner, Red Devil, Regina, Rickland�Orchards, Sa-s�n, Sclafani, Smart�Puffs, Spring�Tree, Sugar Twin, Trappey�s, TrueNorth, Underwood, Vermont�Maid and Wright�s.� B&G�Foods also sells and distributes two branded household products, Static�Guard and Kleen Guard.

�

Contacts:

�

Media Relations:

Ernest DelBuono

202-973-1318

�

�