B&G ($BGS) podcast mentions
Last week, Jeff in New York called to talk vegetables after seeing me cook up some Lisa's None Better tomato sauce on X. He said he was trying to diversify away from the data center. Everyone's doing that, right? So he invested in a local food packaging stock that keeps hitting new highs. It's a company called Seneca Foods Corporation, which trades under the 5-letter ticker SENEA. This is one of North America's largest processors of packaged fruits and vegetables. I told him flat out, I don't know, Seneca Foods, but I really should follow more food companies as they are accessible to people. So I promised to do the homework and here we are. Looking at the chart, you'd think this was an AI data center company. The stock's up 256% over the past 3 years and nearly 70% year to date. But Seneca Foods doesn't deal in semiconductors. They deal in canned corn, green beans, and fresh and frozen vegetables. Not fresh, frozen. Now, the stock's pulled back about 11% from its highs last week. So I want to figure out if it's maybe worth buying the pullback. Well, a lot of stocks are pulling back, right? It's a very simple company. They buy vegetables and some fruit in the United States, turn them into canned or packaged goods, then sell them to customers in the United States. I mean, this is not a video. This is Seneca. Now, you may not recognize the corporate theme, but I bet you recognize some of these age-old brands. Green Giant, Libby's, Aunt Nellie's. However, about half of Seneca's customer mix is private label, meaning it makes products that retailers sell under their house brand names. It's really good business. They don't care whether you're buying the premium nationally branded stuff or the cheap private label knockoffs because they package everything. Now, back on March 2nd, Seneca bought Green Giant's US frozen business from B&G Foods for $61.5 million. That comes not long after they bought Green Giant's American canned foods business in 2023. B&G has not been a well-run company, to say the least. It's been a real donor here for Seneca. And these guys clearly know what they're doing because the first full quarter since that acquisition showed the impact.
Jim Cramer · Mad Money w/ Jim Cramer · Mad Money w/ Jim Cramer 9/10/26 · 2026-09-10