B&G Foods (BGS) 10-Q 6 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 29, 2024	Aug. 01, 2024
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 29, 2024
Entity File Number	001-32316
Entity Registrant Name	B&G FOODS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3918742
Entity Address, Postal Zip Code	07054
Entity Address, Address Line One	Four Gatehall Drive
Entity Address, City or Town	Parsippany
Entity Address, State or Province	NJ
City Area Code	973
Local Phone Number	401-6500
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BGS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		79,163,886
Entity Central Index Key	0001278027
Current Fiscal Year End Date	--12-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Current assets:
Cash and cash equivalents	$ 40,323	$ 41,094
Trade accounts receivable, net	142,252	143,015
Inventories	559,594	568,980
Prepaid expenses and other current assets	42,803	41,747
Income tax receivable	11,604	7,988
Total current assets	796,576	802,824
Property, plant and equipment, net of accumulated depreciation of $446,027 and $426,084 as of June 29, 2024 and December 30, 2023, respectively	287,395	302,288
Operating lease right-of-use assets	64,140	70,046
Finance lease right-of-use assets	1,303	1,832
Goodwill	548,589	619,399
Other intangible assets, net	1,617,047	1,627,836
Other assets	24,768	23,484
Deferred income taxes	11,731	15,581
Total assets	3,351,549	3,463,290
Current liabilities:
Trade accounts payable	126,210	123,778
Accrued expenses	64,166	83,217
Current portion of operating lease liabilities	17,841	16,939
Current portion of finance lease liabilities	1,082	1,070
Current portion of long-term debt	265,392	22,000
Income tax payable	240	475
Dividends payable	15,041	14,939
Total current liabilities	489,972	262,418
Long-term debt, net of current portion	1,779,034	2,023,088
Deferred income taxes	248,909	267,053
Long-term operating lease liabilities, net of current portion	46,517	53,724
Long-term finance lease liabilities, net of current portion	183	726
Other liabilities	21,923	20,818
Total liabilities	2,586,538	2,627,827
Commitments and contingencies (Note 12)
Stockholders' equity:
Preferred stock, $0.01 par value per share. Authorized 1,000,000 shares; no shares issued or outstanding
Common stock, $0.01 par value per share. Authorized 125,000,000 shares; 79,163,886 and 78,624,419 shares issued and outstanding as of June 29, 2024 and December 30, 2023, respectively	792	786
Additional paid-in capital	21,288	46,990
Accumulated other comprehensive (loss) income	(5,858)	2,597
Retained earnings	748,789	785,090
Total stockholders' equity	765,011	835,463
Total liabilities and stockholders' equity	$ 3,351,549	$ 3,463,290

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Consolidated Balance Sheets
Property, plant and equipment, accumulated depreciation (in dollars)	$ 446,027	$ 426,084
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, Authorized shares	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, Authorized shares	125,000,000	125,000,000
Common stock, shares issued	79,163,886	78,624,419
Common stock, shares outstanding	79,163,886	78,624,419

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Consolidated Statements of Operations
Net sales	$ 444,590	$ 469,637	$ 919,813	$ 981,451
Cost of goods sold	352,553	367,361	718,895	764,939
Gross profit	92,037	102,276	200,918	216,512
Operating expenses:
Selling, general and administrative expenses	43,128	47,872	91,740	94,601
Amortization expense	5,111	5,211	10,223	10,452
Impairment of goodwill			70,580
Loss on sales of assets			135	85
Operating income	43,798	49,193	28,240	111,374
Other (income) and expenses:
Interest expense, net	37,808	35,814	75,633	75,249
Other income	(1,046)	(936)	(2,088)	(1,857)
Income (loss) before income tax expense (benefit)	7,036	14,315	(45,305)	37,982
Income tax expense (benefit)	3,098	3,762	(9,004)	24,014
Net income (loss)	$ 3,938	$ 10,553	$ (36,301)	$ 13,968
Weighted average shares outstanding:
Basic	79,082,857	72,237,482	78,865,241	72,008,119
Diluted	79,389,144	72,379,814	78,865,241	72,087,182
Earnings (loss) per share:
Basic	$ 0.05	$ 0.15	$ (0.46)	$ 0.19
Diluted	0.05	0.15	(0.46)	0.19
Cash dividends declared per share	$ 0.19	$ 0.19	$ 0.38	$ 0.38

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Consolidated Statements of Comprehensive (Loss) Income
Net income (loss)	$ 3,938	$ 10,553	$ (36,301)	$ 13,968
Other comprehensive (loss) income:
Foreign currency translation adjustments	(8,531)	4,579	(8,436)	9,739
Pension loss, net of tax	(11)	(6)	(19)	(6)
Other comprehensive (loss) income	(8,542)	4,573	(8,455)	9,733
Comprehensive (loss) income	$ (4,604)	$ 15,126	$ (44,756)	$ 23,701

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income	Retained Earnings	Total
Beginning balance at Dec. 31, 2022	$ 717		$ (9,349)	$ 876,798	$ 868,166
Beginning balance (in shares) at Dec. 31, 2022	71,668,144
Increase (Decrease) in Stockholders' Equity
Foreign currency translation			5,160		5,160
Net income (loss)				3,415	3,415
Share-based compensation		$ 664			664
Issuance of common stock for share-based compensation	$ 5	(1,666)			(1,661)
Issuance of common stock for share-based compensation (in shares)	557,558
Cancellation of restricted stock for tax withholding upon vesting		(205)			(205)
Cancellation of restricted stock for tax withholding upon vesting (in shares)	(13,488)
Cancellation of restricted stock upon forfeiture (in shares)	(414)
Dividends declared on common stock, $0.19 per share		1,207		(14,927)	(13,720)
Ending balance at Apr. 01, 2023	$ 722		(4,189)	865,286	861,819
Ending balance (in shares) at Apr. 01, 2023	72,211,800
Beginning balance at Dec. 31, 2022	$ 717		(9,349)	876,798	868,166
Beginning balance (in shares) at Dec. 31, 2022	71,668,144
Increase (Decrease) in Stockholders' Equity
Foreign currency translation					9,739
Change in pension benefit					(6)
Net income (loss)					13,968
Ending balance at Jul. 01, 2023	$ 723		384	865,256	866,363
Ending balance (in shares) at Jul. 01, 2023	72,291,573
Beginning balance at Apr. 01, 2023	$ 722		(4,189)	865,286	861,819
Beginning balance (in shares) at Apr. 01, 2023	72,211,800
Increase (Decrease) in Stockholders' Equity
Foreign currency translation			4,579		4,579
Change in pension benefit			(6)		(6)
Net income (loss)				10,553	10,553
Share-based compensation		3,166			3,166
Issuance of common stock for share-based compensation	$ 1	(1)
Issuance of common stock for share-based compensation (in shares)	82,917
Cancellation of restricted stock for tax withholding upon vesting		(13)			(13)
Cancellation of restricted stock for tax withholding upon vesting (in shares)	(960)
Cancellation of restricted stock upon forfeiture (in shares)	(2,184)
Dividends declared on common stock, $0.19 per share		(3,152)		(10,583)	(13,735)
Ending balance at Jul. 01, 2023	$ 723		384	865,256	866,363
Ending balance (in shares) at Jul. 01, 2023	72,291,573
Beginning balance at Dec. 30, 2023	$ 786	46,990	2,597	785,090	$ 835,463
Beginning balance (in shares) at Dec. 30, 2023	78,624,419				78,624,419
Increase (Decrease) in Stockholders' Equity
Foreign currency translation			95		$ 95
Change in pension benefit			(8)		(8)
Net income (loss)				(40,239)	(40,239)
Share-based compensation		1,519			1,519
Issuance of common stock for share-based compensation	$ 6	(6)
Issuance of common stock for share-based compensation (in shares)	479,746
Cancellation of restricted stock for tax withholding upon vesting	$ (1)	(589)			(590)
Cancellation of restricted stock for tax withholding upon vesting (in shares)	(51,997)
Cancellation of restricted stock upon forfeiture (in shares)	(676)
Dividends declared on common stock, $0.19 per share		(15,020)			(15,020)
Ending balance at Mar. 30, 2024	$ 791	32,894	2,684	744,851	781,220
Ending balance (in shares) at Mar. 30, 2024	79,051,492
Beginning balance at Dec. 30, 2023	$ 786	46,990	2,597	785,090	$ 835,463
Beginning balance (in shares) at Dec. 30, 2023	78,624,419				78,624,419
Increase (Decrease) in Stockholders' Equity
Foreign currency translation					$ (8,436)
Change in pension benefit					(19)
Net income (loss)					(36,301)
Ending balance at Jun. 29, 2024	$ 792	21,288	(5,858)	748,789	$ 765,011
Ending balance (in shares) at Jun. 29, 2024	79,163,886				79,163,886
Beginning balance at Mar. 30, 2024	$ 791	32,894	2,684	744,851	$ 781,220
Beginning balance (in shares) at Mar. 30, 2024	79,051,492
Increase (Decrease) in Stockholders' Equity
Foreign currency translation			(8,531)		(8,531)
Change in pension benefit			(11)		(11)
Net income (loss)				3,938	3,938
Share-based compensation		3,461			3,461
Issuance of common stock for share-based compensation	$ 1	(1)
Issuance of common stock for share-based compensation (in shares)	116,532
Cancellation of restricted stock for tax withholding upon vesting		(25)			(25)
Cancellation of restricted stock for tax withholding upon vesting (in shares)	(2,671)
Cancellation of restricted stock upon forfeiture (in shares)	(1,467)
Dividends declared on common stock, $0.19 per share		(15,041)			(15,041)
Ending balance at Jun. 29, 2024	$ 792	$ 21,288	$ (5,858)	$ 748,789	$ 765,011
Ending balance (in shares) at Jun. 29, 2024	79,163,886				79,163,886

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Consolidated Statements of Changes in Stockholders' Equity
Change in pension benefit, income taxes	$ 3	$ 3	$ 5
Dividends declared on common stock, per share (in dollars per share)	$ 0.19	$ 0.19	$ 0.19

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Cash flows from operating activities:
Net (loss) income	$ (36,301)	$ 13,968
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	34,552	35,304
Amortization of operating lease right-of-use assets	9,480	8,905
Amortization of deferred debt financing costs and bond discount/premium	3,208	4,684
Deferred income taxes	(15,158)	15,097
Impairment of goodwill	70,580
Loss on sales of assets	258	177
Gain on extinguishment of debt		(786)
Share-based compensation expense	4,395	3,301
Changes in assets and liabilities, net of effects of businesses acquired:
Trade accounts receivable	468	7,381
Inventories	3,136	57,200
Prepaid expenses and other current assets	(787)	(2,332)
Income tax receivable/payable, net	(4,001)	(1,078)
Other assets	(2,646)	(1,042)
Trade accounts payable	4,472	6,639
Accrued expenses	(26,326)	(16,046)
Other liabilities	1,080	1,005
Net cash provided by operating activities	46,410	132,377
Cash flows from investing activities:
Capital expenditures	(13,747)	(10,605)
Proceeds from sales of assets	(422)	51,497
Net cash (used in) provided by investing activities	(14,169)	40,892
Cash flows from financing activities:
Repurchases of senior notes	(21,315)	(23,350)
Repayments of borrowings under term loan facility	(685)	(121,000)
Repayments of borrowings under revolving credit facility	(60,000)	(107,500)
Borrowings under revolving credit facility	80,000	105,000
Dividends paid	(29,958)	(27,337)
Payments of tax withholding on behalf of employees for net share settlement of share-based compensation	(615)	(1,879)
Net cash used in financing activities	(32,573)	(176,066)
Effect of exchange rate fluctuations on cash and cash equivalents	(439)	127
Net decrease in cash and cash equivalents	(771)	(2,670)
Cash and cash equivalents at beginning of period	41,094	45,442
Cash and cash equivalents at end of period	40,323	42,772
Supplemental disclosures of cash flow information:
Cash interest payments	71,254	71,916
Cash income tax payments	10,044	9,991
Non-cash investing and financing transactions:
Dividends declared and not yet paid	15,041	13,735
Accruals related to purchases of property, plant and equipment	1,798	1,525
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 2,709	$ 6,750

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 29, 2024
Nature of Operations
Nature of Operations	(1) Nature of Operations B&G Foods, Inc. is a holding company whose principal assets are the shares of capital stock of its subsidiaries. Unless the context requires otherwise, references in this report to “B&G Foods,” “our company,” “we,” “us” and “our” refer to B&G Foods, Inc. and its subsidiaries. Our financial statements are presented on a consolidated basis. We manufacture, sell and distribute a diverse portfolio of high-quality shelf-stable and frozen foods across the United States, Canada and Puerto Rico. Our products include frozen and canned vegetables, vegetable, canola and other cooking oils, vegetable shortening, cooking sprays, oatmeal and other hot cereals, fruit spreads, canned meats and beans, bagel chips, spices, seasonings, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, pizza crusts, Mexican-style sauces, dry soups, taco shells and kits, salsas, pickles, peppers, tomato-based products, crackers, baking powder, baking soda, corn starch, nut clusters and other specialty products. Our 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 Clabber Girl Cream of Rice Cream of Wheat Crisco Dash, Davis Devonsheer Don Pepino Durkee Grandma’s Molasses Green Giant Joan of Arc Las Palmas Le Sueur MacDonald’s Mama Mary’s Maple Grove Farms McCann’s Molly McButter New York Flatbreads New York Style Old London Ortega Polaner Red Devil Regina Rumford Sa-són Sclafani Spice Islands Spring Tree Sugar Twin Tone’s Trappey’s TrueNorth Underwood Vermont Maid Victoria Weber Wright’s Static Guard

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 29, 2024
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	(2) Summary of Significant Accounting Policies Fiscal Year Typically, our fiscal quarters and fiscal year consist of 13 and 52 weeks, respectively, ending on the Saturday closest to December 31 in the case of our fiscal year and fourth fiscal quarter, and on the Saturday closest to the end of the corresponding calendar quarter in the case of our fiscal quarters. As a result, a 53 rd week is added to our fiscal year every five or six years . Generally, in a 53 -week fiscal year our fourth fiscal quarter contains 14 weeks. Our fiscal year ending December 28, 2024 (fiscal 2024) and our fiscal year ended December 30, 2023 (fiscal 2023) each contains 52 weeks. Each quarter of fiscal 2024 and 2023 contains 13 weeks. Basis of Presentation The accompanying unaudited consolidated interim financial statements for the thirteen and twenty-six week periods ended June 29, 2024 (second quarter and first two quarters of 2024) and July 1, 2023 (second quarter and first two quarters of 2023) have been prepared by our company in accordance with generally accepted accounting principles in the United States (GAAP) pursuant to the rules and regulations of the Securities and Exchange Commission (SEC), and include the accounts of B&G Foods, Inc. and its subsidiaries. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. However, our management believes, to the best of their knowledge, that the disclosures herein are adequate to make the information presented not misleading. All intercompany balances and transactions have been eliminated. The accompanying unaudited consolidated interim financial statements contain all adjustments that are, in the opinion of management, necessary to present fairly our consolidated financial position as of June 29, 2024, and the results of our operations, comprehensive (loss) income, changes in stockholders’ equity and cash flows for the second quarter and first two quarters of 2024 and 2023. Our results of operations for the second quarter and first two quarters of 2024 are not necessarily indicative of the results to be expected for the full year. We have evaluated subsequent events for disclosure through the date of issuance of the accompanying unaudited consolidated interim financial statements. The accompanying unaudited consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for fiscal 2023 filed with the SEC on February 28, 2024 (which we refer to as our 2023 Annual Report on Form 10-K). Use of Estimates The preparation of financial statements in accordance with GAAP requires our management to make a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Some of the more significant estimates and assumptions made by management involve revenue recognition as it relates to trade and consumer promotion expenses; pension benefits; acquisition accounting fair value allocations; the recoverability of goodwill, other intangible assets, property, plant and equipment and deferred tax assets; and the determination of the useful life of customer relationship and finite-lived trademark intangible assets. Actual results could differ significantly from these estimates and assumptions. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors that management believes to be reasonable under the circumstances, including the current economic environment. We adjust such estimates and assumptions when facts and circumstances dictate. Volatility in the credit and equity markets can increase the uncertainty inherent in such estimates and assumptions. Segment Reporting Effective in the first quarter of 2024, we realigned our reportable segments to correspond with changes to our organizational responsibilities, management structure and operating model. As a result of the change, we now manage and report the following four segments: Specialty, Meals, Frozen & Vegetables and Spices & Flavor Solutions. See Note 16, “Business Segment Information,” for information about our transition from one reporting segment to four reporting segments. Accounting Standards Adopted in Fiscal 2024 or Fiscal 2023 In October 2021, the Financial Accounting Standards Board (FASB) issued a new Accounting Standards Update (ASU) that provides an exception to fair value measurement for revenue contracts acquired in business combinations. This guidance became effective during fiscal 2023 and will be applied to any future business combinations. The adoption of this ASU did not have a material impact to our consolidated financial statements or related disclosures. Recently Issued Accounting Standards – Pending Adoption In December 2023, the FASB issued a new ASU that requires improved disclosures related to the rate reconciliation and income taxes paid. This ASU requires companies to reconcile the income tax expense attributable to continuing operations to the statutory federal income tax rate applied to pre-tax income from continuing operations. This ASU is effective for annual periods beginning with fiscal 2025. Early adoption is permitted. The guidance is required to be applied on a prospective basis with the option to apply retrospectively to all prior periods presented in the financial statements. We are currently evaluating the expected impact to our consolidated financial statements and related disclosures. In November 2023, the FASB issued a new ASU that enhances segment disclosures and requires additional disclosures of segment expenses. This ASU is effective for fiscal 2024 annual reporting, and for the first quarter of 2025 for interim period reporting. We will adopt the guidance when it becomes effective for our 2024 annual reporting. Retrospective adoption is required for all prior periods presented. As this ASU requires only additional disclosures, the adoption of this ASU will not impact our consolidated financial position, results of operations or liquidity.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 29, 2024
Acquisitions and Divestitures
Acquisitions and Divestitures	(3) Acquisitions and Divestitures Divestiture of Green Giant U.S. Shelf-Stable Product Line During the third quarter of 2023, we reclassified $201.8 million of assets related to our Green Giant Green Giant Green Giant Green Giant Le Sueur Green Giant Green Giant Green Giant shelf-stable product line. In connection with the sale, we provided certain transition services to Seneca from the closing date through February 6, 2024. After certain post-closing adjustments, we recognized a pre-tax loss on the divestiture of $137.8 million, as calculated below (in thousands): ​ ​ ​ ​ ​ Cash received (1) $ 55,166 Less: ​ ​ Assets sold: ​ ​ Trademarks — indefinite-lived intangible assets $ 115,340 Inventories ​ 73,563 Customer relationships — finite-lived intangible assets ​ 4,111 Total assets sold ​ 193,014 Pre-tax loss on sale of assets (2) $ (137,848) (1) Cash received of $55.2 million is net of a post-closing inventory adjustment of $0.4 million. (2) Pre-tax loss on sale of assets of $137.8 million consists of $132.9 million recorded during the third quarter of 2023, $4.8 million recorded during the fourth quarter of 2023, and $0.1 million recorded during the first quarter of 2024. Back to Nature Divestiture On December 15, 2022, we entered into an agreement to sell the Back to Nature Back to Nature During fiscal 2022, we reclassified $157.7 million of assets related to our Back to Nature Back to Nature Effective January 3, 2023, the first business day of fiscal 2023, we completed the Back to Nature Back to Nature ​ ​ ​ ​ ​ ​ ​ Cash received $ 51,414 Less: ​ ​ Assets sold: ​ ​ Trademarks — indefinite-lived intangible assets $ 109,900 Goodwill ​ 29,500 Customer relationships — finite-lived intangible assets ​ 11,025 Inventories ​ 7,323 Impairment of assets held for sale ​ (106,434) Total assets sold ​ 51,314 Expenses ​ 185 Pre-tax loss on sale of assets $ (85) ​ As a result of the Back to Nature

Inventories

Inventories	6 Months Ended
	Jun. 29, 2024
Inventories
Inventories	(4) Inventories Inventories are stated at the lower of cost or net realizable value and include direct material, direct labor, overhead, warehousing and product transfer costs. Cost is determined using the first-in, first-out and average cost methods. Inventories have been reduced by an allowance for excess, obsolete and unsaleable inventories. The allowance is an estimate based on management’s review of inventories on hand compared to estimated future usage and sales. Inventories consist of the following, as of the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 29, 2024 December 30, 2023 Raw materials and packaging ​ $ 105,450 ​ $ 92,707 Work-in-process ​ ​ 85,034 ​ ​ 128,073 Finished goods ​ 369,110 ​ 348,200 Inventories ​ $ 559,594 ​ $ 568,980 ​

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 29, 2024
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	(5) Goodwill and Other Intangible Assets The carrying amounts of goodwill and other intangible assets, as of the dates indicated, consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 29, 2024 ​ December 30, 2023 ​ Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying ​ Amount ​ Amortization ​ Amount ​ Amount ​ Amortization ​ Amount Finite-Lived Intangible Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trademarks $ 6,800 ​ $ 5,062 ​ $ 1,738 ​ $ 6,800 ​ $ 4,836 ​ $ 1,964 Customer relationships 386,153 ​ 208,989 ​ 177,164 ​ 386,235 ​ 199,006 ​ 187,229 Total finite-lived intangible assets $ 392,953 ​ $ 214,051 ​ $ 178,902 ​ $ 393,035 ​ $ 203,842 ​ $ 189,193 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indefinite-Lived Intangible Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ ​ ​ ​ ​ ​ $ 548,589 ​ ​ ​ ​ ​ ​ ​ $ 619,399 Trademarks ​ ​ ​ ​ ​ ​ ​ 1,438,145 ​ ​ ​ ​ ​ ​ ​ ​ 1,438,643 Total indefinite-lived intangible assets ​ ​ ​ ​ ​ ​ $ 1,986,734 ​ ​ ​ ​ ​ ​ ​ $ 2,058,042 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total goodwill and other intangible assets ​ ​ ​ ​ ​ ​ $ 2,165,636 ​ ​ ​ ​ ​ ​ ​ $ 2,247,235 ​ The changes in the carrying amount of goodwill by operating segment for the first two quarters of 2024 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Specialty ​ Meals ​ Frozen & Vegetables ​ Spices & Flavor Solutions ​ Total Balance as of December 31, 2023 $ 224,366 ​ $ 143,020 ​ $ 70,580 ​ $ 181,433 ​ $ 619,399 Currency translation ​ (230) ​ ​ — ​ ​ — ​ ​ — ​ ​ (230) Impairment ​ — ​ ​ — ​ ​ (70,580) ​ ​ — ​ ​ (70,580) Balance as of June 29, 2024 $ 224,136 ​ $ 143,020 ​ $ — ​ $ 181,433 ​ $ 548,589 ​ Amortization expense associated with finite-lived intangible assets was $5.1 million and $10.2 million for the second quarter and first two quarters of 2024, respectively, and $5.2 million and $10.5 million for the second quarter and first two quarters of 2023, respectively, and is recorded in operating expenses. We expect to recognize an additional $10.2 million of amortization expense associated with our finite-lived intangible assets during the remainder of fiscal 2024, and thereafter $20.4 million in fiscal 2025 During the first quarter of 2024, we reorganized our reporting structure from one reporting segment to four reporting segments: Specialty, Meals, Frozen & Vegetables and Spices & Flavor Solutions, which are further described in Note 16. The change in structure required us to reassign assets and liabilities, including goodwill, between the reporting segments and complete a goodwill impairment test both prior to and subsequent to the change and evaluate other assets in the reporting segments for impairment, including indefinite-lived intangible assets (trademarks). The fair value of our reporting segments is estimated using a discounted cash flow analysis, which required us to estimate future cash flows as well as to select a risk-adjusted discount rate to measure the present value of the anticipated cash flows. When determining future cash flow estimates, we consider historical results adjusted to reflect current and anticipated operating conditions. We estimate cash flows for a reporting segment over a discrete period and a terminal period (considering expected long-term growth rates and trends). We used a discount rate of 8.00% and a terminal growth rate that was flat in estimating the fair value of our reporting segments. Estimating the fair value of individual reporting segments requires us to make assumptions and estimates in areas such as future economic conditions, industry-specific conditions, product pricing, and necessary capital expenditures. The use of different assumptions or estimates for future cash flows, discount rates, or terminal growth rates could produce substantially different estimates of the fair value. As a result of our goodwill impairment test during the first quarter of 2024, we recognized pre-tax, non-cash goodwill impairment charges of $70.6 million within our Frozen & Vegetables reporting segment, which is recorded in “Impairment of goodwill” in our consolidated statements of operations. We did not recognize any impairment charges for indefinite-lived intangible assets for the first two quarters of 2024 or for goodwill or indefinite-lived intangible assets for the first two quarters of 2023. If future revenues and contributions to our operating results for any of our brands or operating segments, including recently impaired brands and any newly acquired brands, deteriorate, at rates in excess of our current projections, we may be required to record additional non-cash impairment charges to certain intangible assets, including trademarks and goodwill. In addition, any significant decline in our market capitalization or changes in discount rates, even if due to macroeconomic factors, could put pressure on the carrying value of our goodwill or the goodwill of any of our operating segments. A determination that all or a portion of our goodwill or indefinite-lived intangible assets are impaired, although a non-cash charge to operations, could have a material adverse effect on our business, consolidated financial condition and results of operations. For a further discussion of our annual impairment testing of goodwill and indefinite-lived intangible assets (trademarks), see Note 2(g), “Summary of Significant Accounting Policies— Goodwill and Other Intangible Assets

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 29, 2024
Long-Term Debt
Long-Term Debt	(6) Long-Term Debt Long-term debt consists of the following, as of the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 29, 2024 December 30, 2023 Revolving credit loans $ 190,000 $ 170,000 Tranche B term loans due 2026 ​ ​ 507,310 ​ ​ 528,625 5.25% senior notes due 2025 ​ ​ 265,392 ​ ​ 265,392 5.25% senior notes due 2027 ​ ​ 550,000 ​ ​ 550,000 8.00% senior secured notes due 2028 ​ ​ 549,315 ​ ​ 550,000 Unamortized deferred debt financing costs ​ ​ (14,527) ​ (15,319) Unamortized discount/premium ​ (3,064) ​ (3,610) Total long-term debt, net of unamortized deferred debt financing costs and discount/premium ​ ​ 2,044,426 ​ ​ 2,045,088 Current portion of long-term debt ​ (265,392) ​ (22,000) Long-term debt, net of unamortized deferred debt financing costs and discount/premium, and excluding current portion $ 1,779,034 $ 2,023,088 ​ As of June 29, 2024, the aggregate contractual maturities of long-term debt were as follows (in thousands): ​ ​ ​ ​ ​ Aggregate Contractual Maturities Fiscal year: ​ ​ 2024 remaining $ — 2025 455,392 2026 507,310 2027 550,000 2028 549,315 Thereafter — Total $ 2,062,017 As described below in this Note 6 and Note 17, “Subsequent Events,” we refinanced a portion of our long-term debt on July 12, 2024. As of July 12, 2024, immediately after the refinancing, the aggregate contractual maturities of long-term debt were as follows (in thousands): ​ ​ ​ ​ Aggregate Contractual Maturities Fiscal year: ​ ​ 2024 remaining $ — 2025 265,392 2026 — 2027 550,000 2028 829,315 Thereafter 450,000 Total $ 2,094,707 ​ Senior Secured Credit Agreement. During the first quarter of 2023, we made a mandatory prepayment of $50.0 million principal amount of tranche B term loans with proceeds from the Back to Nature Green Giant Green Giant On July 12, 2024, we refinanced and amended our credit agreement. As part of the refinancing and together with a portion of the net proceeds of the offering of additional 8.00% senior secured notes due 2028 described below, we reduced the aggregate principal amount of tranche B term loans outstanding under our credit agreement from $507.3 million to $450.0 million by replacing $507.3 million of outstanding tranche B term loans with $450.0 million of new tranche B term loans. We also extended the maturity date for the tranche B term loans from October 10, 2026 to October 10, 2029. The new tranche B term loans were issued at a price equal to 99.00% of their face value. The new tranche B term loans bear interest based on alternative rates that we may choose, including a base rate per annum plus an applicable margin of 2.50%, and SOFR plus an applicable margin of 3.50%. The new tranche B term loans are subject to amortization at the rate of 1% per year with the balance due and payable on the maturity date. As of June 29, 2024, the available borrowing capacity under the revolving credit facility, net of outstanding letters of credit of $5.1 million, was $604.9 million. As part of the refinancing, on July 12, 2024, we prepaid $175.0 million aggregate principal amount of revolving credit loans with a portion of the proceeds of the tack-on offering, decreased the revolver capacity under the credit agreement from $800.0 million to $475.0 million aggregate principal amount, and extended the maturity date of our revolving credit facility from December 16, 2025 to December 16, 2028. Following the refinancing, interest under the revolving credit facility, including any outstanding letters of credit, is determined based on alternative rates that we may choose in accordance with the credit agreement, including a base rate per annum plus an applicable margin ranging from 0.50% to 1.00%, and SOFR plus an applicable margin ranging from 1.50% to 2.00%, in each case depending on our consolidated leverage ratio (as defined in the credit agreement). As of July 12, 2024, $30.0 million aggregate principal amount of revolving credit loans remained outstanding and the available borrowing capacity under the revolving credit facility, net of outstanding letters of credit of $5.1 million, was $439.9 million. Proceeds of the revolving credit facility may be used for general corporate purposes, including acquisitions of targets in the same or a similar line of business as our company, subject to specified criteria. We are required to pay a commitment fee of 0.50% per annum on the unused portion of the revolving credit facility. The maximum letter of credit capacity under the revolving credit facility is $50.0 million, with a fronting fee of 0.25% per annum for all outstanding letters of credit and a letter of credit fee equal to the applicable margin for revolving loans that are SOFR loans. If we prepay all or any portion of the tranche B term loans within six months of the funding of the new tranche B term loans in connection with a financing that has a lower interest rate or weighted average yield than the new tranche B term loans, we will owe a repayment fee equal to 1% of the amount prepaid. Otherwise, we may prepay term loans or revolving loans at any time without premium or penalty (other than customary “breakage” costs with respect to the early termination of SOFR loans). Subject to certain exceptions, the credit agreement provides for mandatory prepayment upon certain asset dispositions or casualty events and issuances of indebtedness. Our obligations under the credit agreement are jointly and severally and fully and unconditionally guaranteed on a senior basis by all of our existing and certain future domestic subsidiaries (other than a domestic subsidiary that is a holding company for one or more foreign subsidiaries). The credit agreement is secured by substantially all of our and our domestic subsidiaries’ assets except our and our domestic subsidiaries’ real property. The credit agreement contains customary restrictive covenants, subject to certain permitted amounts and exceptions, including covenants limiting our ability to incur additional indebtedness, pay dividends and make other restricted payments, repurchase shares of our outstanding stock and create certain liens. The credit agreement also contains certain financial maintenance covenants, which, among other things, specify a maximum consolidated leverage ratio and a minimum interest coverage ratio, each ratio as defined in the credit agreement. The credit agreement provides that our maximum consolidated leverage ratio (defined as the ratio, determined on a pro forma basis, of our consolidated net debt, as of the last day of any period of four consecutive fiscal quarters to our adjusted EBITDA (as defined in the credit agreement) before share-based compensation for such period), is 7.00 to 1.00. We are also required to maintain a consolidated interest coverage ratio (defined as the ratio, determined on a pro forma basis, of our adjusted EBITDA (before share-based compensation) for any period of four consecutive fiscal quarters to our consolidated interest expense for such period payable in cash) of at least 1.75 to 1.00. As of June 29, 2024, we were in compliance with all of the covenants, including the financial covenants, in the credit agreement. The credit agreement also provides for an incremental term loan and revolving loan facility, pursuant to which we may request that the lenders under the credit agreement, and potentially other lenders, provide unlimited additional amounts of term loans or revolving loans or both on terms substantially consistent with those provided under the credit agreement. Among other things, the utilization of the incremental facility is conditioned on our ability to meet a maximum senior secured leverage ratio of 4.00 to 1.00, and a sufficient number of lenders or new lenders agreeing to participate in the facility. 5.25% Senior Notes due 2025 We used the net proceeds of the April 2017 offering to repay all of the then outstanding borrowings and amounts due under our revolving credit facility and tranche A term loans, to pay related fees and expenses and for general corporate purposes. We used the net proceeds of the November 2017 offering to repay all of the then outstanding borrowings and amounts due under our revolving credit facility, to pay related fees and expenses and for general corporate purposes. Interest on the 5.25% senior notes due 2025 is payable on April 1 and October 1 of each year, commencing October 1, 2017. The 5.25% senior notes due 2025 will mature on April 1, 2025, unless earlier retired or redeemed as described below. We may redeem some or all of the 5.25% senior notes due 2025 at a redemption price of 100% of the principal amount plus accrued and unpaid interest to the date of redemption. In addition, if we undergo a change of control or upon certain asset sales, we may be required to offer to repurchase the 5.25% senior notes due 2025 at the repurchase price set forth in the indenture plus accrued and unpaid interest to the date of repurchase. We may also, from time to time, seek to retire the 5.25% senior notes due 2025 through cash repurchases of the 5.25% senior notes due 2025 and/or exchanges of the 5.25% senior notes due 2025 for equity securities, in open market purchases, privately negotiated transactions or otherwise. Such repurchases or exchanges, if any, will depend on prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. The amounts involved may be material. During fiscal 2023, we repurchased $79.2 million aggregate principal amount of the 5.25% senior notes due 2025 in open market purchases at an average discounted repurchase price of 97.24% of such principal amount plus accrued and unpaid interest. We used the net proceeds from the issuance of our 8.00% senior secured notes due 2028, together with cash on hand, to redeem at par $555.4 million aggregate principal amount of our 5.25% senior notes due 2025 on October 12, 2023 and to pay accrued and unpaid interest and related fees and expenses. As of June 29, 2024, $265.4 million aggregate principal amount of the 5.25% senior notes due 2025 remain outstanding. Our obligations under the 5.25% senior notes due 2025 are jointly and severally and fully and unconditionally guaranteed on a senior basis by all of our existing and certain future domestic subsidiaries. The 5.25% senior notes due 2025 and the subsidiary guarantees are our and the guarantors’ general unsecured obligations and are effectively junior in right of payment to all of our and the guarantors’ secured indebtedness and to all existing and future indebtedness and other liabilities of our non-guarantor subsidiaries; are pari passu The indenture governing the 5.25% senior notes due 2025 contains covenants with respect to us and the guarantors and restricts the incurrence of additional indebtedness and the issuance of capital stock; the payment of dividends or distributions on, and redemption of, capital stock; a number of other restricted payments, including certain investments; creation of certain liens; certain sale-leaseback transactions; certain asset sales; fundamental changes, including consolidation, mergers and transfers of all or substantially all of our assets; and specified transactions with affiliates. Each of the covenants is subject to a number of important exceptions and qualifications. As of June 29, 2024, we were in compliance with all of the covenants in the indenture governing the 5.25% senior notes due 2025. 5.25% Senior Notes due 2027 We used the proceeds of the offering, together with the proceeds of incremental term loans made during the fourth quarter of 2019, to redeem all of our outstanding 4.625% senior notes due 2021, repay a portion of our borrowings under our revolving credit facility, pay related fees and expenses and for general corporate purposes. Interest on the 5.25% senior notes due 2027 is payable on March 15 and September 15 of each year, commencing March 15, 2020. The 5.25% senior notes due 2027 will mature on September 15, 2027, unless earlier retired or redeemed as described below. We may redeem some or all of the 5.25% senior notes due 2027 at a redemption price of 102.625% of the principal amount beginning March 1, 2023 and thereafter at prices declining annually to 101.313% on March 1, 2024 and 100% on or after March 1, 2025, in each case plus accrued and unpaid interest to the date of redemption. In addition, if we undergo a change of control or upon certain asset sales, we may be required to offer to repurchase the 5.25% senior notes due 2027 at the repurchase price set forth in the indenture plus accrued and unpaid interest to the date of repurchase. We may also, from time to time, seek to retire the 5.25% senior notes due 2027 through cash repurchases of the 5.25% senior notes due 2027 and/or exchanges of the 5.25% senior notes due 2027 for equity securities, in open market purchases, privately negotiated transactions or otherwise. Such repurchases or exchanges, if any, will depend on prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. The amounts involved may be material. Our obligations under the 5.25% senior notes due 2027 are jointly and severally and fully and unconditionally guaranteed on a senior basis by all of our existing and certain future domestic subsidiaries. The 5.25% senior notes due 2027 and the subsidiary guarantees are our and the guarantors’ general unsecured obligations and are effectively junior in right of payment to all of our and the guarantors’ secured indebtedness and to all existing and future indebtedness and other liabilities of our non-guarantor subsidiaries; are pari passu The indenture governing the 5.25% senior notes due 2027 contains covenants with respect to us and the guarantors and restricts the incurrence of additional indebtedness and the issuance of capital stock; the payment of dividends or distributions on, and redemption of, capital stock; a number of other restricted payments, including certain investments; creation of certain liens; certain sale-leaseback transactions; certain asset sales; fundamental changes, including consolidation, mergers and transfers of all or substantially all of our assets; and specified transactions with affiliates. Each of the covenants is subject to a number of important exceptions and qualifications. As of June 29, 2024, we were in compliance with all of the covenants in the indenture governing the 5.25% senior notes due 2027. 8.00% Senior Secured Notes due 2028 The net proceeds from the initial offering in September 2023 were $538.3 million after deducting discounts, fees and expenses related to the offering. We used the net proceeds of the offering, together with cash on hand, to redeem $555.4 million aggregate principal amount of our 5.25% senior notes due 2025 on October 12, 2023 and to pay related fees and expenses. We used the proceeds of the offering in July 2024 of additional 8.00% senior secured notes due 2028 to repay a portion of our tranche B term loans and revolving credit loans under our credit agreement and to pay related fees and expenses. Interest on the 8.00% senior secured notes due 2028 is payable on March 15 and September 15 of each year. The 8.00% senior secured notes due 2028 will mature on September 15, 2028, unless earlier retired or redeemed as described below. We may redeem some or all of the 8.00% senior secured notes due 2028 at a redemption price of 104.00% of the principal amount beginning September 15, 2025 and thereafter at prices declining annually to 102.00% on or after September 15, 2026 and 100.00% on or after September 15, 2027, in each case plus accrued and unpaid interest to (but not including) the date of redemption. We may redeem up to 40% of the aggregate principal amount of the 8.00% senior secured notes due 2028 prior to September 15, 2025 at a redemption price of 108.00% plus accrued and unpaid interest to (but not including) the date of redemption with the net proceeds from certain equity offerings. We may also redeem some or all of the 8.00% senior secured notes due 2028 at any time prior to September 15, 2025 at a redemption price equal to the make-whole amount set forth in the indenture plus accrued and unpaid interest to (but not including) the date of redemption. In addition, if we undergo a change of control, we may be required to offer to repurchase the 8.00% senior secured notes due 2028 at 101.00% of the aggregate principal amount, plus accrued and unpaid interest to (but not including) the date of repurchase. Upon certain asset dispositions we may be required to offer to purchase a portion of the 8.00% senior secured notes due 2028 at 100.00% of the aggregate principal amount, plus accrued and unpaid interest to (but not including) the date of repurchase. See “ Offer to Partially Repurchase 8.00% Senior Secured Notes Due 2028 Upon Asset Sale” We may also, from time to time, seek to retire the 8.00% senior secured notes due 2028 through cash repurchases of the 8.00% senior secured notes due 2028 and/or exchanges of the 8.00% senior secured notes due 2028 for equity securities, in open market purchases, privately negotiated transactions or otherwise. Such repurchases or exchanges, if any, will depend on prevailing market conditions, our liquidity requirements, contractual restrictions and other factors. The amounts involved may be material. The 8.00% senior secured notes due 2028 are our senior secured obligations and are jointly and severally and fully and unconditionally guaranteed on a senior secured basis by each of our existing and future domestic subsidiaries (other than immaterial subsidiaries). The 8.00% senior secured notes due 2028 have the same guarantors as our credit agreement. The 8.00% senior secured notes due 2028 and the related guarantees are secured by, subject to permitted liens, first-priority security interests in certain collateral (which generally includes most of our and our guarantors’ right or interest in or to property of any kind, except for our and our guarantors’ real property and certain intangible assets), which assets also secure (and will continue to secure) our credit agreement on a pari passu pari passu The indenture governing the 8.00% senior secured notes due 2028 contains covenants with respect to us and the guarantors and restricts the incurrence of additional indebtedness and the issuance of capital stock; the payment of dividends or distributions on, and redemption of, capital stock; a number of other restricted payments, including certain investments; creation of certain liens; certain sale-leaseback transactions; certain asset sales; fundamental changes, including consolidation, mergers and transfers of all or substantially all of our assets; and specified transactions with affiliates. Each of the covenants is subject to a number of important exceptions and qualifications. As of June 29, 2024, we were in compliance with all of the covenants in the indenture governing the 8.00% senior secured notes due 2028. Offer to Partially Repurchase 8.00% Senior Secured Notes Due 2028 Upon Asset Sale Green Giant During April 2024, B&G Foods received and accepted for purchase approximately $0.7 million principal amount of the 8.00% senior secured notes due 2028 validly tendered by the asset sale offer to purchase deadline. During April 2024, B&G Foods used the remaining asset sale proceeds to prepay approximately $21.3 million aggregate principal amount of tranche B term loans. Subsidiary Guarantees. Accrued Interest

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 29, 2024
Fair Value Measurements
Fair Value Measurements	(7) Fair Value Measurements The authoritative accounting literature relating to fair value measurements defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The accounting literature outlines a valuation framework and creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures. Under GAAP, certain assets and liabilities must be measured at fair value, and the accounting literature details the disclosures that are required for items measured at fair value. Financial assets and liabilities are measured using inputs from the three levels of the fair value hierarchy under the accounting literature. The three levels are as follows: Level 1—Inputs are unadjusted quoted prices in active markets for identical assets or liabilities. Level 2—Observable inputs other than Level 1 quoted prices, such as quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value driver is observable for the asset or liability, either directly or indirectly. Level 3—Unobservable inputs that reflect our assumptions about the assumptions that market participants would use in pricing the asset or liability. Cash and cash equivalents, trade accounts receivable, income tax receivable, trade accounts payable, accrued expenses, income tax payable and dividends payable are reflected in the consolidated balance sheets at carrying value, which approximates fair value due to the short-term nature of these instruments. The carrying values and fair values of our revolving credit loans, term loans and senior notes as of June 29, 2024 and December 30, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 29, 2024 ​ ​ December 30, 2023 ​ Carrying Value Fair Value Carrying Value Fair Value Revolving credit loans ​ $ 190,000 ​ $ 190,000 (1) $ 170,000 ​ $ 170,000 (1) Tranche B term loans due 2026 ​ ​ 506,517 (2) ​ 501,452 (3) ​ 527,443 (2) ​ 522,169 (3) 5.25% senior notes due 2025 ​ ​ 265,516 (4) ​ 263,193 (3) ​ 265,592 (4) ​ 261,608 (3) 5.25% senior notes due 2027 ​ ​ 550,000 ​ ​ 507,375 (3) ​ 550,000 ​ ​ 497,750 (3) 8.00% senior secured notes due 2028 ​ $ 546,920 (5) $ 555,124 (3) $ 547,372 ​ $ 572,688 (3) (1) Fair values are estimated based on Level 2 inputs, which were quoted prices for identical or similar instruments in markets that are not active. (2) The carrying value of the tranche B term loans includes a discount. At June 29, 2024 and December 30, 2023, the face amount of the tranche B term loans was $507.3 million and $528.6 million, respectively. (3) Fair values are estimated based on quoted market prices. (4) The carrying value of the 5.25% senior notes due 2025 includes a premium. At June 29, 2024 and December 30, 2023, the face amount of the 5.25% senior notes due 2025 was $265.4 million. (5) The carrying value of the 8.00% senior secured notes due 2028 includes a discount. At June 29, 2024 and December 30, 2023, the face amount of the 8.00% senior secured notes due 2028 was $549.3 million and $550.0 million, respectively. There was no Level 3 activity during the second quarter or first two quarters of 2024 or 2023.

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	6 Months Ended
	Jun. 29, 2024
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income	(8) Accumulated Other Comprehensive (Loss) Income The reclassifications from accumulated other comprehensive (loss) income (AOCLI) for the second quarter and first two quarters of 2024 and 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts Reclassified from AOCLI ​ Amounts Reclassified from AOCLI ​ Affected Line Item in ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ the Statement Where ​ June 29, July 1, June 29, July 1, ​ Net Income (Loss) Details about AOCLI Components 2024 2023 2024 2023 is Presented Defined benefit pension plan items ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of unrecognized gain $ (14) ​ $ (11) ​ $ (25) ​ $ (11) ​ See (1) below Accumulated other comprehensive gain before tax (14) ​ (11) ​ (25) ​ (11) ​ Total before tax Tax expense 3 ​ 5 ​ 6 ​ 5 ​ Income tax expense (benefit) Total reclassification $ (11) ​ $ (6) ​ $ (19) ​ $ (6) ​ Net of tax (1) These items are included in the computation of net periodic pension cost. See Note 10, “Pension Benefits,” for additional information. ​ Changes in AOCLI for the first two quarters of 2024 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ ​ ​ ​ ​ Defined Benefit ​ Translation ​ ​ ​ ​ Pension Plan Items Adjustments Total Balance at December 30, 2023 $ 4,308 $ (1,711) $ 2,597 Other comprehensive loss before reclassifications ​ — ​ (8,436) ​ (8,436) Amounts reclassified from AOCLI ​ (19) ​ — ​ (19) Net current period other comprehensive loss ​ (19) ​ (8,436) ​ (8,455) Balance at June 29, 2024 $ 4,289 $ (10,147) $ (5,858) ​

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 29, 2024
Stockholders' Equity
Stockholders' Equity	(9) Stockholders’ Equity At-The-Market Equity Offering Program Future sales of shares, if any, under the ATM equity offering program will be made by means of transactions that are deemed to be “at-the-market” offerings as defined in Rule 415 under the Securities Act of 1933, as amended, including block trades and sales made in ordinary brokers’ transactions on the New York Stock Exchange or otherwise at market prices prevailing at the time of the sale, at prices related to prevailing market prices or at negotiated prices. The timing and amount of any sales will be determined by a variety of factors considered by us. We intend to use the net proceeds from any future sales of our common stock under the ATM offering for general corporate purposes, which could include, among other things, repayment, refinancing, redemption or repurchase of long-term debt or possible acquisitions. As of June 29, 2024, 3,667,154 shares of our common stock remain authorized and available for issuance under our ATM equity offering program. Omnibus Incentive Compensation Plan. ​

Pension Benefits

Pension Benefits	6 Months Ended
	Jun. 29, 2024
Pension Benefits
Pension Benefits	(10) Pension Benefits Company-Sponsored Defined Benefit Pension Plans . As of June 29, 2024, we had four company-sponsored defined benefit pension plans covering approximately 21% of our employees. Three of these defined benefit pension plans are for the benefit of certain of our union employees and one is for the benefit of salaried and certain hourly employees. The benefits in the salaried and hourly plan are based on each employee’s years of service and compensation, as defined. Newly hired employees are no longer eligible to participate in any of our four company-sponsored defined benefit pension plans. Net periodic pension cost for our four company-sponsored defined benefit pension plans for the second quarter and first two quarters of 2024 and 2023 includes the following components (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ 2024 2023 2024 2023 Service cost—benefits earned during the period $ 1,267 ​ $ 1,305 ​ $ 2,555 ​ $ 2,593 Interest cost on projected benefit obligation 1,899 ​ 1,858 ​ 3,798 ​ 3,718 Expected return on plan assets (2,931) ​ (2,782) ​ (5,861) ​ (5,563) Amortization of unrecognized gain (14) ​ (11) ​ (25) ​ (11) Net periodic pension cost $ 221 ​ $ 370 ​ $ 467 ​ $ 737 ​ During the first two quarters of 2024 and 2023, we did not make any contributions to our company-sponsored defined benefit pension plans. During the remainder of fiscal 2024, we expect to make approximately $2.5 million of contributions. Multi-Employer Defined Benefit Pension Plan . In connection with the closure and sale of the Portland, Maine manufacturing facility, we withdrew from participation in the plan during the fourth quarter of 2021. As a result, we are required to make monthly withdrawal liability payments to the plan over 20 years . These payments amount to approximately $0.9 million on an annual basis beginning March 1, 2022. Accordingly, the present value of the remaining payments amounting to $12.6 million as of June 29, 2024 is reflected as a liability on our unaudited consolidated balance sheet.

Leases

Leases	6 Months Ended
	Jun. 29, 2024
Leases
Leases	(11) Leases Operating Leases and Finance Lease . We determine whether an arrangement is a lease at inception. We have operating leases and a finance lease for certain of our manufacturing facilities, distribution centers, warehouse and storage facilities, machinery and equipment, and office equipment. Our leases have remaining lease terms of one year to seven years , some of which include options to extend the lease term for up to ten years , and some of which include options to terminate the lease within one year . We consider these options in determining the lease term used to establish our right-of-use assets and lease liabilities. Operating leases and a finance lease are included in the accompanying unaudited consolidated balance sheets in the following line items (in thousands): ​ ​ ​ ​ ​ ​ ​ June 29, December 30, ​ 2024 2023 Right-of-use assets: ​ ​ ​ ​ ​ Operating lease right-of-use assets $ 64,140 ​ $ 70,046 Finance lease right-of-use assets ​ 1,303 ​ ​ 1,832 Total lease right-of-use assets $ 65,443 ​ $ 71,878 ​ ​ ​ ​ ​ ​ Operating lease liabilities: ​ ​ ​ ​ ​ Current portion of operating lease liabilities $ 17,841 ​ $ 16,939 Long-term operating lease liabilities, net of current portion ​ 46,517 ​ ​ 53,724 Total operating lease liabilities $ 64,358 ​ $ 70,663 ​ ​ ​ ​ ​ ​ Finance lease liabilities: ​ ​ ​ ​ ​ Current portion of finance lease liabilities $ 1,082 ​ $ 1,070 Long-term finance lease liabilities, net of current portion ​ 183 ​ ​ 726 Total finance lease liabilities $ 1,265 ​ $ 1,796 ​ The following table shows supplemental information related to leases (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ June 29, July 1, June 29, July 1, ​ 2024 2023 2024 2023 Operating cash flow information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for amounts included in the measurement of operating lease liabilities $ 5,033 ​ $ 4,488 ​ $ 9,901 ​ $ 9,082 Cash paid for amounts included in the measurement of finance lease liabilities $ 274 ​ $ 274 ​ $ 549 ​ $ 549 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The components of operating lease costs were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of goods sold $ 2,799 ​ $ 2,728 ​ $ 6,061 ​ $ 5,464 Selling, general and administrative expenses ​ 1,709 ​ ​ 1,727 ​ ​ 3,419 ​ ​ 3,441 Total operating lease costs $ 4,508 ​ $ 4,455 ​ $ 9,480 ​ $ 8,905 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The components of finance lease costs were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation of finance right-of-use assets $ 265 ​ $ 266 ​ $ 529 ​ $ 530 Interest on finance lease liabilities ​ 8 ​ ​ 14 ​ ​ 18 ​ ​ 30 Total finance lease costs $ 273 ​ $ 280 ​ $ 547 ​ $ 560 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total net lease costs $ 4,781 ​ $ 4,735 ​ $ 10,027 ​ $ 9,465 ​ Total rent expense was $4.8 million, including the operating lease costs of $4.5 million stated above, for the second quarter of 2024 and $10.2 million, including the operating lease costs of $9.5 million stated above, for the first two quarters of 2024. Total rent expense was $5.1 million, including the operating lease costs of $4.5 million stated above, for the second quarter of 2023 and $10.1 million, including the operating lease costs of $8.9 million stated above, for the first two quarters of 2023. Because neither our operating leases nor our finance lease provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We have lease agreements that contain both lease and non-lease components. With the exception of our real estate leases, we account for our leases as a single lease component. The following table shows the weighted average lease term and weighted average discount rate for our ROU assets: ​ ​ ​ ​ ​ ​ ​ June 29, ​ December 30, ​ 2024 ​ 2023 Weighted average remaining lease term (years) ​ ​ ​ ​ ​ Operating leases ​ 4.6 ​ ​ 4.9 Finance lease ​ 1.2 ​ ​ 1.7 Weighted average discount rate ​ ​ ​ ​ ​ Operating leases ​ 3.78% ​ ​ 3.77% Finance lease ​ 2.30% ​ ​ 2.30% ​ As of June 29, 2024, the maturities of lease liabilities were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases Finance Lease ​ Total Maturities of Lease Liabilities Fiscal year: ​ ​ ​ ​ ​ ​ ​ ​ 2024 remaining $ 9,872 ​ $ 549 ​ $ 10,421 2025 ​ 19,610 ​ ​ 732 ​ ​ 20,342 2026 14,144 ​ — ​ 14,144 2027 9,563 ​ — ​ 9,563 2028 7,989 ​ — ​ 7,989 Thereafter ​ 8,816 ​ ​ — ​ ​ 8,816 Total undiscounted future minimum lease payments ​ 69,994 ​ ​ 1,281 ​ ​ 71,275 Less: Imputed interest (5,636) ​ (16) ​ (5,652) Total present value of future lease liabilities $ 64,358 ​ $ 1,265 ​ $ 65,623 ​

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 29, 2024
Commitments and Contingencies
Commitments and Contingencies	(12) Commitments and Contingencies Legal Proceedings. Environmental. Collective Bargaining Agreements As of the date of this report, only one of our collective bargaining agreements is scheduled to expire in the next twelve months. The collective bargaining agreement for our Ankeny, Iowa facility, which covers approximately 311 employees, is scheduled to expire on April 6, 2025. While we believe that our relations with our union employees are in general good, we cannot assure you that we will be able to negotiate new collective bargaining agreements for our Ankeny facility on terms satisfactory to us, or at all, and without production interruptions, including labor stoppages. At this time, however, management does not expect that the outcome of the negotiations will have a material adverse impact on our business, financial condition or results of operations. Severance and Change of Control Agreements.

Earnings (Loss) per Share

Earnings (Loss) per Share	6 Months Ended
	Jun. 29, 2024
Earnings (Loss) per Share
Earnings (Loss) per Share	(13) Earnings (Loss) per Share Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding. Diluted earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding plus all additional shares of common stock that would have been outstanding if potentially dilutive shares of common stock had been issued upon the exercise of stock options or in connection with performance shares that may be earned under long-term incentive awards as of the grant date, in the case of the stock options, and as of the beginning of the period, in the case of the performance shares, using the treasury stock method. For the second quarter of 2024 and for the second quarter and first two quarters of 2023, there were 1,745,750 and 1,695,755, respectively, shares of common stock issuable upon the exercise of stock options excluded from the calculation of diluted weighted average shares outstanding because the effect would have been antidilutive on diluted earnings (loss) per share. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ June 29, July 1, June 29, July 1, ​ 2024 2023 2024 2023 Weighted average shares outstanding: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ 79,082,857 ​ ​ 72,237,482 ​ ​ 78,865,241 ​ ​ 72,008,119 Net effect of potentially dilutive share-based compensation awards (1) ​ 306,287 ​ ​ 142,332 ​ ​ — ​ ​ 79,063 Diluted ​ 79,389,144 ​ ​ 72,379,814 ​ ​ 78,865,241 ​ ​ 72,087,182 ​ (1) For the first two quarters of 2024, there are no potentially dilutive share-based compensation awards included in the calculation of diluted weighted average common shares outstanding, as their effect was antidilutive.

Business and Credit Concentrati

Business and Credit Concentrations and Geographic Information	6 Months Ended
	Jun. 29, 2024
Business and Credit Concentrations and Geographic Information
Business and Credit Concentrations and Geographic Information	(14) Business and Credit Concentrations and Geographic Information Our exposure to credit loss in the event of non-payment of accounts receivable by customers is estimated in the amount of the allowance for doubtful accounts. We perform ongoing credit evaluations of the financial condition of our customers. Our top ten customers accounted for approximately 62.9% and 61.1% of consolidated net sales for the first two quarters of 2024 and 2023, respectively. Other than Walmart, which accounted for approximately 31.1% and 29.7% of our consolidated net sales for the first two quarters of 2024 and 2023, respectively, no single customer accounted for more than 10.0% of our consolidated net sales for the first two quarters of 2024 or 2023. Walmart is a customer for all four of our operating segments. Our top ten customers accounted for approximately 67.3% and 63.1% of our consolidated trade accounts receivables as of June 29, 2024 and December 30, 2023, respectively. Other than Walmart, which accounted for approximately 34.7% and 30.7% of our consolidated trade accounts receivables as of June 29, 2024 and December 30, 2023, no single customer accounted for more than 10.0% of our consolidated trade accounts receivables. As of June 29, 2024, we do not believe we have any significant concentration of credit risk with respect to our consolidated trade accounts receivables with any single customer whose failure or nonperformance would materially affect our results other than as described above with respect to Walmart. During the first two quarters of 2024 and 2023, our sales to customers in foreign countries represented approximately 8.9% and 8.6%, respectively, of net sales. Our foreign sales are primarily to customers in Canada.

Share-Based Payments

Share-Based Payments	6 Months Ended
	Jun. 29, 2024
Share-Based Payments
Share-Based Payments	(15) Share-Based Payments The following table details our stock option activity for the first two quarters of fiscal 2024 (dollars in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Weighted Average ​ ​ ​ ​ ​ ​ Average ​ Contractual Life ​ Aggregate ​ Options Exercise Price Remaining (Years) Intrinsic Value Outstanding at December 30, 2023 1,745,750 ​ $ 25.11 7.44 ​ $ — Granted 71,268 ​ $ 9.59 ​ ​ ​ ​ Exercised — ​ $ — ​ ​ ​ ​ ​ Forfeited — ​ $ — ​ ​ ​ ​ ​ Expired ​ — ​ $ — ​ ​ ​ ​ ​ Outstanding at June 29, 2024 1,817,018 ​ $ 24.50 7.05 ​ $ — Exercisable at June 29, 2024 845,750 ​ $ 30.13 5.17 ​ $ — ​ The fair value of the options was estimated on the date of grant using the Black-Scholes option-pricing model utilizing the following assumptions. Expected volatility was based on both historical and implied volatilities of our common stock over the estimated expected term of the award. The expected term of the options granted represents the period of time that options were expected to be outstanding and is generally based on the “simplified method” in accordance with accounting guidance. We generally utilize the simplified method to determine the expected term of the options as we do not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term. However, a portion of the options granted during the first quarter of 2023 were granted with exercise prices significantly above the closing price on the date of grant. For those options, we modified the method for determining the expected term and adjusted to or towards the full remaining contractual life. The risk-free interest rate for the expected term of options is based on the U.S. Treasury implied yield at the date of grant. The assumptions used in the Black-Scholes option-pricing model for options granted during the first two quarters of 2024 and 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Weighted average grant date fair value ​ $ 2.32 $ 2.71 Expected volatility ​ ​ 48.19% ​ ​ 39.6% - 43.3% Expected term ​ ​ 5.5 years ​ ​ 5.5 years - 8.3 years Risk-free interest rate ​ ​ 4.4% ​ ​ 3.6% - 3.7% Dividend yield ​ ​ 7.9% ​ ​ 5.4% - 5.9% ​ The following table details the activity in our performance share long-term incentive awards (LTIAs) for the first two quarters of 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of ​ Grant Date Fair Value ​ Performance Shares (1) (per share) (2) Outstanding at December 30, 2023 1,606,768 ​ $ 17.29 Granted 1,451,362 ​ $ 9.21 Vested — ​ $ — Forfeited (301,173) ​ $ 26.50 Outstanding at June 29, 2024 2,756,957 ​ $ 12.03 (1) Solely for purposes of this table, the number of performance shares is based on the participants earning the maximum number of performance shares (i.e., 233.333% or 300% , as applicable, of the target number of performance shares). (2) The fair value of the awards was determined based upon the closing price of our common stock on the applicable measurement dates (i.e., the deemed grant dates for accounting purposes), reduced by the present value of expected dividends using the risk-free interest-rate, as the award holders are not entitled to dividends or dividend equivalents during the vesting period. The following table details the activity in our restricted stock for the first two quarters of 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of Shares ​ Grant Date Fair Value ​ of Restricted Stock (per share) (1) Outstanding at December 30, 2023 369,573 ​ $ 16.65 Granted 479,746 ​ $ 11.36 Vested (138,953) ​ $ 17.73 Forfeited (2,143) ​ $ 14.41 Outstanding at June 29, 2024 708,223 ​ $ 12.86 (1) The fair value of the awards was determined based upon the closing price of our common stock on the applicable measurement dates (i.e., the deemed grant dates for accounting purposes). The following table details the number of shares of common stock issued by our company during the second quarter and first two quarters of 2024 and 2023 upon the vesting of performance share LTIAs, the exercise of stock options, the issuance of restricted stock and other share-based compensation net of cancellations: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ June 29, July 1, June 29, July 1, ​ 2024 2023 2024 2023 Number of performance shares vested ​ — ​ — ​ — ​ 360,926 Shares withheld for tax withholding ​ — ​ — ​ — ​ (131,803) Shares of common stock issued for performance share LTIAs ​ — ​ — ​ — ​ 229,123 Shares of common stock issued to non-employee directors for annual equity grants ​ 116,532 ​ 81,531 ​ 116,532 ​ 81,531 Shares of restricted common stock issued to employees ​ ​ — ​ ​ 1,386 ​ ​ 479,746 ​ ​ 329,821 Shares of restricted stock withheld and cancelled for tax withholding upon vesting ​ ​ (2,671) ​ ​ (960) ​ ​ (54,668) ​ ​ (14,448) Shares of restricted stock cancelled upon forfeiture ​ ​ (1,467) ​ ​ (2,184) ​ ​ (2,143) ​ ​ (2,598) Net shares of common stock issued ​ 112,394 ​ 79,773 ​ 539,467 ​ 623,429 ​ The following table sets forth the compensation expense recognized for share-based payments (performance share LTIAs, restricted stock, stock options, non-employee director stock grants and other share-based payments) during the second quarter and first two quarters of 2024 and 2023 and where that expense is reflected in our consolidated statements of operations (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ June 29, ​ July 1, ​ June 29, ​ July 1, Consolidated Statements of Operations Location 2024 2023 2024 2023 Compensation expense included in cost of goods sold $ 299 ​ $ 620 ​ $ 461 ​ $ 734 Compensation expense included in selling, general and administrative expenses 2,313 ​ 1,754 ​ 3,934 ​ 2,567 Total compensation expense for share-based payments $ 2,612 ​ $ 2,374 ​ $ 4,395 ​ $ 3,301 ​ As of June 29, 2024, there was $9.6 million of unrecognized compensation expense related to performance share LTIAs, which is expected to be recognized over the next 2.5 years, $7.4 million of unrecognized compensation expense related to restricted stock, which is expected to be recognized over the next 2.7 years, and $1.9 million of unrecognized compensation expense related to stock options, which is expected to be recognized over the next 3.6 years.

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 29, 2024
Business Segment Information
Business Segment Information	(16) Business Segment Information Historically, we operated in a single industry segment. However, beginning with the first quarter of 2024, we now operate in, and have begun reporting results by, four business segments. This change stemmed from our recent formation and the evolution of our four business units: Specialty, Meals, Frozen & Vegetables and Spices & Flavor Solutions, which are further described below. Prior period segment results in the unaudited consolidated interim financial statements and related notes in this report have been recast to reflect the change from one single operating segment to four operating segments. Specialty — includes, among others, the Crisco Clabber Girl Bear Creek Polaner Underwood B&G Grandma’s New York Style B&M TrueNorth Don Pepino Sclafani Baker’s Joy Regina SugarTwin Brer Rabbit Meals — includes, among others, the Ortega Maple Grove Farms Cream of Wheat Victoria Las Palmas Mama Mary’s Spring Tree McCann’s Carey’s Vermont Maid Frozen & Vegetables — includes the Green Giant Le Sueur Spices & Flavor Solutions — includes, among others, the Dash Weber Spice Islands Tone’s Ac’cent Trappey’s Durkee Wright’s Segment net sales and segment adjusted EBITDA are the primary measures used by our chief operating decision maker (CODM) to evaluate segment operating performance and to decide how to allocate resources to segments. Our CODM is our chief executive officer. Segment adjusted EBITDA excludes unallocated corporate items, depreciation and amortization, acquisition/divestiture-related and non-recurring expenses, impairment of intangible assets, gains and losses on sales of assets, interest expense, and income tax expense or benefit. Unallocated corporate items consist of centrally managed corporate functions, including selling, marketing, procurement, centralized administrative functions, insurance, and other similar expenses not directly tied to segment operating performance. Depreciation and amortization expenses are neither maintained nor available by operating segment, as our manufacturing, warehouse, and distribution activities are centrally managed. These items that are centrally managed at the corporate level, and therefore excluded from the measure of segment adjusted EBITDA, are reviewed by our CODM. Expenses that are managed centrally but can be attributed to a segment, such as warehousing and transportation expenses, are generally allocated based on net sales. Information about total assets by operating segment is neither maintained nor disclosed because such information is not provided to, or reviewed by, our CODM for purposes of assessing operating segment performance or allocating resources. Our operating segment results were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 Net sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Specialty ​ $ 146,624 ​ $ 153,837 ​ $ 301,353 ​ $ 316,460 Meals ​ ​ 107,889 ​ ​ 114,143 ​ ​ 227,920 ​ ​ 236,092 Frozen & Vegetables ​ ​ 91,580 ​ ​ 107,762 ​ ​ 196,467 ​ ​ 233,968 Spices & Flavor Solutions ​ ​ 98,497 ​ ​ 93,895 ​ ​ 194,073 ​ ​ 194,931 Total net sales ​ ​ 444,590 ​ ​ 469,637 ​ ​ 919,813 ​ ​ 981,451 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Segment adjusted EBITDA: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Specialty ​ ​ 31,688 ​ ​ 32,706 ​ ​ 68,880 ​ ​ 69,190 Meals ​ ​ 23,911 ​ ​ 23,024 ​ ​ 49,540 ​ ​ 49,262 Frozen & Vegetables ​ ​ 3,808 ​ ​ 10,775 ​ ​ 11,638 ​ ​ 21,229 Spices & Flavor Solutions ​ ​ 27,647 ​ ​ 26,113 ​ ​ 56,316 ​ ​ 56,793 Total segment adjusted EBITDA ​ ​ 87,054 ​ ​ 92,618 ​ ​ 186,374 ​ ​ 196,474 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unallocated corporate expenses ​ ​ 23,134 ​ ​ 24,167 ​ ​ 47,409 ​ ​ 45,658 Adjusted EBITDA ​ $ 63,920 ​ $ 68,451 ​ $ 138,965 ​ $ 150,816 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ $ 17,343 ​ $ 17,286 ​ $ 34,552 ​ $ 35,304 Acquisition/divestiture-related and non-recurring expenses ​ ​ 1,733 ​ ​ 1,036 ​ ​ 3,370 ​ ​ 2,196 Impairment of goodwill ​ ​ — ​ ​ — ​ ​ 70,580 ​ ​ — Loss on sales of assets, net of facility closure costs ​ ​ — ​ ​ — ​ ​ 135 ​ ​ 85 Interest expense, net ​ ​ 37,808 ​ ​ 35,814 ​ ​ 75,633 ​ ​ 75,249 Income tax expense (benefit) ​ ​ 3,098 ​ ​ 3,762 ​ ​ (9,004) ​ ​ 24,014 Net income (loss) ​ $ 3,938 ​ $ 10,553 ​ $ (36,301) ​ $ 13,968 ​

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 29, 2024
Subsequent Events
Subsequent Events	​ (17) Subsequent Events Refinancing. ​

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023	Apr. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 3,938	$ (40,239)	$ 10,553	$ 3,415	$ (36,301)	$ 13,968

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 29, 2024
Summary of Significant Accounting Policies
Fiscal Year	Fiscal Year Typically, our fiscal quarters and fiscal year consist of 13 and 52 weeks, respectively, ending on the Saturday closest to December 31 in the case of our fiscal year and fourth fiscal quarter, and on the Saturday closest to the end of the corresponding calendar quarter in the case of our fiscal quarters. As a result, a 53 rd week is added to our fiscal year every five or six years . Generally, in a 53 -week fiscal year our fourth fiscal quarter contains 14 weeks. Our fiscal year ending December 28, 2024 (fiscal 2024) and our fiscal year ended December 30, 2023 (fiscal 2023) each contains 52 weeks. Each quarter of fiscal 2024 and 2023 contains 13 weeks.
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated interim financial statements for the thirteen and twenty-six week periods ended June 29, 2024 (second quarter and first two quarters of 2024) and July 1, 2023 (second quarter and first two quarters of 2023) have been prepared by our company in accordance with generally accepted accounting principles in the United States (GAAP) pursuant to the rules and regulations of the Securities and Exchange Commission (SEC), and include the accounts of B&G Foods, Inc. and its subsidiaries. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. However, our management believes, to the best of their knowledge, that the disclosures herein are adequate to make the information presented not misleading. All intercompany balances and transactions have been eliminated. The accompanying unaudited consolidated interim financial statements contain all adjustments that are, in the opinion of management, necessary to present fairly our consolidated financial position as of June 29, 2024, and the results of our operations, comprehensive (loss) income, changes in stockholders’ equity and cash flows for the second quarter and first two quarters of 2024 and 2023. Our results of operations for the second quarter and first two quarters of 2024 are not necessarily indicative of the results to be expected for the full year. We have evaluated subsequent events for disclosure through the date of issuance of the accompanying unaudited consolidated interim financial statements. The accompanying unaudited consolidated interim financial statements should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for fiscal 2023 filed with the SEC on February 28, 2024 (which we refer to as our 2023 Annual Report on Form 10-K).
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires our management to make a number of estimates and assumptions relating to the reporting of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Some of the more significant estimates and assumptions made by management involve revenue recognition as it relates to trade and consumer promotion expenses; pension benefits; acquisition accounting fair value allocations; the recoverability of goodwill, other intangible assets, property, plant and equipment and deferred tax assets; and the determination of the useful life of customer relationship and finite-lived trademark intangible assets. Actual results could differ significantly from these estimates and assumptions. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors that management believes to be reasonable under the circumstances, including the current economic environment. We adjust such estimates and assumptions when facts and circumstances dictate. Volatility in the credit and equity markets can increase the uncertainty inherent in such estimates and assumptions.
Segment Reporting	Segment Reporting Effective in the first quarter of 2024, we realigned our reportable segments to correspond with changes to our organizational responsibilities, management structure and operating model. As a result of the change, we now manage and report the following four segments: Specialty, Meals, Frozen & Vegetables and Spices & Flavor Solutions. See Note 16, “Business Segment Information,” for information about our transition from one reporting segment to four reporting segments.
Accounting Standards Adopted and Recently Issued Accounting Standards	Accounting Standards Adopted in Fiscal 2024 or Fiscal 2023 In October 2021, the Financial Accounting Standards Board (FASB) issued a new Accounting Standards Update (ASU) that provides an exception to fair value measurement for revenue contracts acquired in business combinations. This guidance became effective during fiscal 2023 and will be applied to any future business combinations. The adoption of this ASU did not have a material impact to our consolidated financial statements or related disclosures. Recently Issued Accounting Standards – Pending Adoption In December 2023, the FASB issued a new ASU that requires improved disclosures related to the rate reconciliation and income taxes paid. This ASU requires companies to reconcile the income tax expense attributable to continuing operations to the statutory federal income tax rate applied to pre-tax income from continuing operations. This ASU is effective for annual periods beginning with fiscal 2025. Early adoption is permitted. The guidance is required to be applied on a prospective basis with the option to apply retrospectively to all prior periods presented in the financial statements. We are currently evaluating the expected impact to our consolidated financial statements and related disclosures. In November 2023, the FASB issued a new ASU that enhances segment disclosures and requires additional disclosures of segment expenses. This ASU is effective for fiscal 2024 annual reporting, and for the first quarter of 2025 for interim period reporting. We will adopt the guidance when it becomes effective for our 2024 annual reporting. Retrospective adoption is required for all prior periods presented. As this ASU requires only additional disclosures, the adoption of this ASU will not impact our consolidated financial position, results of operations or liquidity.

Acquisitions and Divestiture (T

Acquisitions and Divestiture (Tables)	6 Months Ended
	Jun. 29, 2024
Back To Nature Foods Company, LLC
Acquisitions and Divestitures
Schedule of divestiture	​ ​ ​ ​ ​ ​ ​ Cash received $ 51,414 Less: ​ ​ Assets sold: ​ ​ Trademarks — indefinite-lived intangible assets $ 109,900 Goodwill ​ 29,500 Customer relationships — finite-lived intangible assets ​ 11,025 Inventories ​ 7,323 Impairment of assets held for sale ​ (106,434) Total assets sold ​ 51,314 Expenses ​ 185 Pre-tax loss on sale of assets $ (85)
Green Giant
Acquisitions and Divestitures
Schedule of divestiture	​ ​ ​ ​ ​ Cash received (1) $ 55,166 Less: ​ ​ Assets sold: ​ ​ Trademarks — indefinite-lived intangible assets $ 115,340 Inventories ​ 73,563 Customer relationships — finite-lived intangible assets ​ 4,111 Total assets sold ​ 193,014 Pre-tax loss on sale of assets (2) $ (137,848) (1) Cash received of $55.2 million is net of a post-closing inventory adjustment of $0.4 million. (2) Pre-tax loss on sale of assets of $137.8 million consists of $132.9 million recorded during the third quarter of 2023, $4.8 million recorded during the fourth quarter of 2023, and $0.1 million recorded during the first quarter of 2024.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 29, 2024
Inventories
Summary of Inventories	Inventories consist of the following, as of the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 29, 2024 December 30, 2023 Raw materials and packaging ​ $ 105,450 ​ $ 92,707 Work-in-process ​ ​ 85,034 ​ ​ 128,073 Finished goods ​ 369,110 ​ 348,200 Inventories ​ $ 559,594 ​ $ 568,980 ​

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 29, 2024
Goodwill and Other Intangible Assets
Schedule of goodwill and other intangible assets	The carrying amounts of goodwill and other intangible assets, as of the dates indicated, consist of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 29, 2024 ​ December 30, 2023 ​ Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying ​ Amount ​ Amortization ​ Amount ​ Amount ​ Amortization ​ Amount Finite-Lived Intangible Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Trademarks $ 6,800 ​ $ 5,062 ​ $ 1,738 ​ $ 6,800 ​ $ 4,836 ​ $ 1,964 Customer relationships 386,153 ​ 208,989 ​ 177,164 ​ 386,235 ​ 199,006 ​ 187,229 Total finite-lived intangible assets $ 392,953 ​ $ 214,051 ​ $ 178,902 ​ $ 393,035 ​ $ 203,842 ​ $ 189,193 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Indefinite-Lived Intangible Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ ​ ​ ​ ​ ​ $ 548,589 ​ ​ ​ ​ ​ ​ ​ $ 619,399 Trademarks ​ ​ ​ ​ ​ ​ ​ 1,438,145 ​ ​ ​ ​ ​ ​ ​ ​ 1,438,643 Total indefinite-lived intangible assets ​ ​ ​ ​ ​ ​ $ 1,986,734 ​ ​ ​ ​ ​ ​ ​ $ 2,058,042 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total goodwill and other intangible assets ​ ​ ​ ​ ​ ​ $ 2,165,636 ​ ​ ​ ​ ​ ​ ​ $ 2,247,235
Carrying amount of goodwill by operating segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Specialty ​ Meals ​ Frozen & Vegetables ​ Spices & Flavor Solutions ​ Total Balance as of December 31, 2023 $ 224,366 ​ $ 143,020 ​ $ 70,580 ​ $ 181,433 ​ $ 619,399 Currency translation ​ (230) ​ ​ — ​ ​ — ​ ​ — ​ ​ (230) Impairment ​ — ​ ​ — ​ ​ (70,580) ​ ​ — ​ ​ (70,580) Balance as of June 29, 2024 $ 224,136 ​ $ 143,020 ​ $ — ​ $ 181,433 ​ $ 548,589

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 29, 2024
Long-Term Debt
Schedule of long-term debt	Long-term debt consists of the following, as of the dates indicated (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ June 29, 2024 December 30, 2023 Revolving credit loans $ 190,000 $ 170,000 Tranche B term loans due 2026 ​ ​ 507,310 ​ ​ 528,625 5.25% senior notes due 2025 ​ ​ 265,392 ​ ​ 265,392 5.25% senior notes due 2027 ​ ​ 550,000 ​ ​ 550,000 8.00% senior secured notes due 2028 ​ ​ 549,315 ​ ​ 550,000 Unamortized deferred debt financing costs ​ ​ (14,527) ​ (15,319) Unamortized discount/premium ​ (3,064) ​ (3,610) Total long-term debt, net of unamortized deferred debt financing costs and discount/premium ​ ​ 2,044,426 ​ ​ 2,045,088 Current portion of long-term debt ​ (265,392) ​ (22,000) Long-term debt, net of unamortized deferred debt financing costs and discount/premium, and excluding current portion $ 1,779,034 $ 2,023,088
Schedule of aggregate contractual maturities of long-term debt	​ ​ ​ ​ ​ Aggregate Contractual Maturities Fiscal year: ​ ​ 2024 remaining $ — 2025 455,392 2026 507,310 2027 550,000 2028 549,315 Thereafter — Total $ 2,062,017 As described below in this Note 6 and Note 17, “Subsequent Events,” we refinanced a portion of our long-term debt on July 12, 2024. As of July 12, 2024, immediately after the refinancing, the aggregate contractual maturities of long-term debt were as follows (in thousands): ​ ​ ​ ​ Aggregate Contractual Maturities Fiscal year: ​ ​ 2024 remaining $ — 2025 265,392 2026 — 2027 550,000 2028 829,315 Thereafter 450,000 Total $ 2,094,707

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 29, 2024
Fair Value Measurements
Summary of carrying values and fair values of our revolving credit loans, term loans and senior notes	The carrying values and fair values of our revolving credit loans, term loans and senior notes as of June 29, 2024 and December 30, 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 29, 2024 ​ ​ December 30, 2023 ​ Carrying Value Fair Value Carrying Value Fair Value Revolving credit loans ​ $ 190,000 ​ $ 190,000 (1) $ 170,000 ​ $ 170,000 (1) Tranche B term loans due 2026 ​ ​ 506,517 (2) ​ 501,452 (3) ​ 527,443 (2) ​ 522,169 (3) 5.25% senior notes due 2025 ​ ​ 265,516 (4) ​ 263,193 (3) ​ 265,592 (4) ​ 261,608 (3) 5.25% senior notes due 2027 ​ ​ 550,000 ​ ​ 507,375 (3) ​ 550,000 ​ ​ 497,750 (3) 8.00% senior secured notes due 2028 ​ $ 546,920 (5) $ 555,124 (3) $ 547,372 ​ $ 572,688 (3) (1) Fair values are estimated based on Level 2 inputs, which were quoted prices for identical or similar instruments in markets that are not active. (2) The carrying value of the tranche B term loans includes a discount. At June 29, 2024 and December 30, 2023, the face amount of the tranche B term loans was $507.3 million and $528.6 million, respectively. (3) Fair values are estimated based on quoted market prices. (4) The carrying value of the 5.25% senior notes due 2025 includes a premium. At June 29, 2024 and December 30, 2023, the face amount of the 5.25% senior notes due 2025 was $265.4 million. (5) The carrying value of the 8.00% senior secured notes due 2028 includes a discount. At June 29, 2024 and December 30, 2023, the face amount of the 8.00% senior secured notes due 2028 was $549.3 million and $550.0 million, respectively.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	6 Months Ended
	Jun. 29, 2024
Accumulated Other Comprehensive (Loss) Income
Schedule of reclassification from accumulated other comprehensive (loss) income	The reclassifications from accumulated other comprehensive (loss) income (AOCLI) for the second quarter and first two quarters of 2024 and 2023 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amounts Reclassified from AOCLI ​ Amounts Reclassified from AOCLI ​ Affected Line Item in ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ the Statement Where ​ June 29, July 1, June 29, July 1, ​ Net Income (Loss) Details about AOCLI Components 2024 2023 2024 2023 is Presented Defined benefit pension plan items ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of unrecognized gain $ (14) ​ $ (11) ​ $ (25) ​ $ (11) ​ See (1) below Accumulated other comprehensive gain before tax (14) ​ (11) ​ (25) ​ (11) ​ Total before tax Tax expense 3 ​ 5 ​ 6 ​ 5 ​ Income tax expense (benefit) Total reclassification $ (11) ​ $ (6) ​ $ (19) ​ $ (6) ​ Net of tax (1) These items are included in the computation of net periodic pension cost. See Note 10, “Pension Benefits,” for additional information.
Schedule of changes in accumulated other comprehensive (loss) income	Changes in AOCLI for the first two quarters of 2024 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Currency ​ ​ ​ ​ ​ Defined Benefit ​ Translation ​ ​ ​ ​ Pension Plan Items Adjustments Total Balance at December 30, 2023 $ 4,308 $ (1,711) $ 2,597 Other comprehensive loss before reclassifications ​ — ​ (8,436) ​ (8,436) Amounts reclassified from AOCLI ​ (19) ​ — ​ (19) Net current period other comprehensive loss ​ (19) ​ (8,436) ​ (8,455) Balance at June 29, 2024 $ 4,289 $ (10,147) $ (5,858) ​

Pension Benefits (Tables)

Pension Benefits (Tables)	6 Months Ended
	Jun. 29, 2024
Pension Benefits
Schedule of components of net periodic pension costs	Net periodic pension cost for our four company-sponsored defined benefit pension plans for the second quarter and first two quarters of 2024 and 2023 includes the following components (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ 2024 2023 2024 2023 Service cost—benefits earned during the period $ 1,267 ​ $ 1,305 ​ $ 2,555 ​ $ 2,593 Interest cost on projected benefit obligation 1,899 ​ 1,858 ​ 3,798 ​ 3,718 Expected return on plan assets (2,931) ​ (2,782) ​ (5,861) ​ (5,563) Amortization of unrecognized gain (14) ​ (11) ​ (25) ​ (11) Net periodic pension cost $ 221 ​ $ 370 ​ $ 467 ​ $ 737

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 29, 2024
Leases
Schedule of operating leases and finance leases on the balance sheets	Operating leases and a finance lease are included in the accompanying unaudited consolidated balance sheets in the following line items (in thousands): ​ ​ ​ ​ ​ ​ ​ June 29, December 30, ​ 2024 2023 Right-of-use assets: ​ ​ ​ ​ ​ Operating lease right-of-use assets $ 64,140 ​ $ 70,046 Finance lease right-of-use assets ​ 1,303 ​ ​ 1,832 Total lease right-of-use assets $ 65,443 ​ $ 71,878 ​ ​ ​ ​ ​ ​ Operating lease liabilities: ​ ​ ​ ​ ​ Current portion of operating lease liabilities $ 17,841 ​ $ 16,939 Long-term operating lease liabilities, net of current portion ​ 46,517 ​ ​ 53,724 Total operating lease liabilities $ 64,358 ​ $ 70,663 ​ ​ ​ ​ ​ ​ Finance lease liabilities: ​ ​ ​ ​ ​ Current portion of finance lease liabilities $ 1,082 ​ $ 1,070 Long-term finance lease liabilities, net of current portion ​ 183 ​ ​ 726 Total finance lease liabilities $ 1,265 ​ $ 1,796
Schedule of supplemental information related to leases	The following table shows supplemental information related to leases (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ June 29, July 1, June 29, July 1, ​ 2024 2023 2024 2023 Operating cash flow information: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash paid for amounts included in the measurement of operating lease liabilities $ 5,033 ​ $ 4,488 ​ $ 9,901 ​ $ 9,082 Cash paid for amounts included in the measurement of finance lease liabilities $ 274 ​ $ 274 ​ $ 549 ​ $ 549 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The components of operating lease costs were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cost of goods sold $ 2,799 ​ $ 2,728 ​ $ 6,061 ​ $ 5,464 Selling, general and administrative expenses ​ 1,709 ​ ​ 1,727 ​ ​ 3,419 ​ ​ 3,441 Total operating lease costs $ 4,508 ​ $ 4,455 ​ $ 9,480 ​ $ 8,905 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The components of finance lease costs were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation of finance right-of-use assets $ 265 ​ $ 266 ​ $ 529 ​ $ 530 Interest on finance lease liabilities ​ 8 ​ ​ 14 ​ ​ 18 ​ ​ 30 Total finance lease costs $ 273 ​ $ 280 ​ $ 547 ​ $ 560 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total net lease costs $ 4,781 ​ $ 4,735 ​ $ 10,027 ​ $ 9,465
Schedule of weighted average remaining lease term and weighted average discount rate	The following table shows the weighted average lease term and weighted average discount rate for our ROU assets: ​ ​ ​ ​ ​ ​ ​ June 29, ​ December 30, ​ 2024 ​ 2023 Weighted average remaining lease term (years) ​ ​ ​ ​ ​ Operating leases ​ 4.6 ​ ​ 4.9 Finance lease ​ 1.2 ​ ​ 1.7 Weighted average discount rate ​ ​ ​ ​ ​ Operating leases ​ 3.78% ​ ​ 3.77% Finance lease ​ 2.30% ​ ​ 2.30%
Future minimum lease payments under operating leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases Finance Lease ​ Total Maturities of Lease Liabilities Fiscal year: ​ ​ ​ ​ ​ ​ ​ ​ 2024 remaining $ 9,872 ​ $ 549 ​ $ 10,421 2025 ​ 19,610 ​ ​ 732 ​ ​ 20,342 2026 14,144 ​ — ​ 14,144 2027 9,563 ​ — ​ 9,563 2028 7,989 ​ — ​ 7,989 Thereafter ​ 8,816 ​ ​ — ​ ​ 8,816 Total undiscounted future minimum lease payments ​ 69,994 ​ ​ 1,281 ​ ​ 71,275 Less: Imputed interest (5,636) ​ (16) ​ (5,652) Total present value of future lease liabilities $ 64,358 ​ $ 1,265 ​ $ 65,623 ​
Future minimum lease payments under finance leases	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases Finance Lease ​ Total Maturities of Lease Liabilities Fiscal year: ​ ​ ​ ​ ​ ​ ​ ​ 2024 remaining $ 9,872 ​ $ 549 ​ $ 10,421 2025 ​ 19,610 ​ ​ 732 ​ ​ 20,342 2026 14,144 ​ — ​ 14,144 2027 9,563 ​ — ​ 9,563 2028 7,989 ​ — ​ 7,989 Thereafter ​ 8,816 ​ ​ — ​ ​ 8,816 Total undiscounted future minimum lease payments ​ 69,994 ​ ​ 1,281 ​ ​ 71,275 Less: Imputed interest (5,636) ​ (16) ​ (5,652) Total present value of future lease liabilities $ 64,358 ​ $ 1,265 ​ $ 65,623 ​

Earnings (Loss) per Share (Tabl

Earnings (Loss) per Share (Tables)	6 Months Ended
	Jun. 29, 2024
Earnings (Loss) per Share
Schedule of calculations related to basic and diluted earnings (loss) per share	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ June 29, July 1, June 29, July 1, ​ 2024 2023 2024 2023 Weighted average shares outstanding: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic ​ 79,082,857 ​ ​ 72,237,482 ​ ​ 78,865,241 ​ ​ 72,008,119 Net effect of potentially dilutive share-based compensation awards (1) ​ 306,287 ​ ​ 142,332 ​ ​ — ​ ​ 79,063 Diluted ​ 79,389,144 ​ ​ 72,379,814 ​ ​ 78,865,241 ​ ​ 72,087,182 ​ (1) For the first two quarters of 2024, there are no potentially dilutive share-based compensation awards included in the calculation of diluted weighted average common shares outstanding, as their effect was antidilutive.

Share-Based Payments (Tables)

Share-Based Payments (Tables)	6 Months Ended
	Jun. 29, 2024
Share-Based Payments
Schedule of stock option activity	The following table details our stock option activity for the first two quarters of fiscal 2024 (dollars in thousands, except per share data): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ Weighted Average ​ ​ ​ ​ ​ ​ Average ​ Contractual Life ​ Aggregate ​ Options Exercise Price Remaining (Years) Intrinsic Value Outstanding at December 30, 2023 1,745,750 ​ $ 25.11 7.44 ​ $ — Granted 71,268 ​ $ 9.59 ​ ​ ​ ​ Exercised — ​ $ — ​ ​ ​ ​ ​ Forfeited — ​ $ — ​ ​ ​ ​ ​ Expired ​ — ​ $ — ​ ​ ​ ​ ​ Outstanding at June 29, 2024 1,817,018 ​ $ 24.50 7.05 ​ $ — Exercisable at June 29, 2024 845,750 ​ $ 30.13 5.17 ​ $ —
Schedule of stock options, valuation assumption	​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 Weighted average grant date fair value ​ $ 2.32 $ 2.71 Expected volatility ​ ​ 48.19% ​ ​ 39.6% - 43.3% Expected term ​ ​ 5.5 years ​ ​ 5.5 years - 8.3 years Risk-free interest rate ​ ​ 4.4% ​ ​ 3.6% - 3.7% Dividend yield ​ ​ 7.9% ​ ​ 5.4% - 5.9%
Schedule of non-vested performance share LTIAs	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of ​ Grant Date Fair Value ​ Performance Shares (1) (per share) (2) Outstanding at December 30, 2023 1,606,768 ​ $ 17.29 Granted 1,451,362 ​ $ 9.21 Vested — ​ $ — Forfeited (301,173) ​ $ 26.50 Outstanding at June 29, 2024 2,756,957 ​ $ 12.03 (1) Solely for purposes of this table, the number of performance shares is based on the participants earning the maximum number of performance shares (i.e., 233.333% or 300% , as applicable, of the target number of performance shares). (2) The fair value of the awards was determined based upon the closing price of our common stock on the applicable measurement dates (i.e., the deemed grant dates for accounting purposes), reduced by the present value of expected dividends using the risk-free interest-rate, as the award holders are not entitled to dividends or dividend equivalents during the vesting period.
Schedule of restricted stock activity	​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of Shares ​ Grant Date Fair Value ​ of Restricted Stock (per share) (1) Outstanding at December 30, 2023 369,573 ​ $ 16.65 Granted 479,746 ​ $ 11.36 Vested (138,953) ​ $ 17.73 Forfeited (2,143) ​ $ 14.41 Outstanding at June 29, 2024 708,223 ​ $ 12.86 (1) The fair value of the awards was determined based upon the closing price of our common stock on the applicable measurement dates (i.e., the deemed grant dates for accounting purposes).
Schedule of number of shares of common stock issued by entity upon the vesting of performance share long-term incentive awards other share based compensation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ June 29, July 1, June 29, July 1, ​ 2024 2023 2024 2023 Number of performance shares vested ​ — ​ — ​ — ​ 360,926 Shares withheld for tax withholding ​ — ​ — ​ — ​ (131,803) Shares of common stock issued for performance share LTIAs ​ — ​ — ​ — ​ 229,123 Shares of common stock issued to non-employee directors for annual equity grants ​ 116,532 ​ 81,531 ​ 116,532 ​ 81,531 Shares of restricted common stock issued to employees ​ ​ — ​ ​ 1,386 ​ ​ 479,746 ​ ​ 329,821 Shares of restricted stock withheld and cancelled for tax withholding upon vesting ​ ​ (2,671) ​ ​ (960) ​ ​ (54,668) ​ ​ (14,448) Shares of restricted stock cancelled upon forfeiture ​ ​ (1,467) ​ ​ (2,184) ​ ​ (2,143) ​ ​ (2,598) Net shares of common stock issued ​ 112,394 ​ 79,773 ​ 539,467 ​ 623,429
Schedule of compensation expense recognized for share-based payments	The following table sets forth the compensation expense recognized for share-based payments (performance share LTIAs, restricted stock, stock options, non-employee director stock grants and other share-based payments) during the second quarter and first two quarters of 2024 and 2023 and where that expense is reflected in our consolidated statements of operations (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ June 29, ​ July 1, ​ June 29, ​ July 1, Consolidated Statements of Operations Location 2024 2023 2024 2023 Compensation expense included in cost of goods sold $ 299 ​ $ 620 ​ $ 461 ​ $ 734 Compensation expense included in selling, general and administrative expenses 2,313 ​ 1,754 ​ 3,934 ​ 2,567 Total compensation expense for share-based payments $ 2,612 ​ $ 2,374 ​ $ 4,395 ​ $ 3,301

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 29, 2024
Business Segment Information
Schedule of operating segment results	Our operating segment results were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thirteen Weeks Ended ​ Twenty-six Weeks Ended ​ ​ June 29, ​ July 1, ​ June 29, ​ July 1, ​ ​ 2024 ​ 2023 ​ 2024 ​ 2023 Net sales: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Specialty ​ $ 146,624 ​ $ 153,837 ​ $ 301,353 ​ $ 316,460 Meals ​ ​ 107,889 ​ ​ 114,143 ​ ​ 227,920 ​ ​ 236,092 Frozen & Vegetables ​ ​ 91,580 ​ ​ 107,762 ​ ​ 196,467 ​ ​ 233,968 Spices & Flavor Solutions ​ ​ 98,497 ​ ​ 93,895 ​ ​ 194,073 ​ ​ 194,931 Total net sales ​ ​ 444,590 ​ ​ 469,637 ​ ​ 919,813 ​ ​ 981,451 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Segment adjusted EBITDA: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Specialty ​ ​ 31,688 ​ ​ 32,706 ​ ​ 68,880 ​ ​ 69,190 Meals ​ ​ 23,911 ​ ​ 23,024 ​ ​ 49,540 ​ ​ 49,262 Frozen & Vegetables ​ ​ 3,808 ​ ​ 10,775 ​ ​ 11,638 ​ ​ 21,229 Spices & Flavor Solutions ​ ​ 27,647 ​ ​ 26,113 ​ ​ 56,316 ​ ​ 56,793 Total segment adjusted EBITDA ​ ​ 87,054 ​ ​ 92,618 ​ ​ 186,374 ​ ​ 196,474 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unallocated corporate expenses ​ ​ 23,134 ​ ​ 24,167 ​ ​ 47,409 ​ ​ 45,658 Adjusted EBITDA ​ $ 63,920 ​ $ 68,451 ​ $ 138,965 ​ $ 150,816 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation and amortization ​ $ 17,343 ​ $ 17,286 ​ $ 34,552 ​ $ 35,304 Acquisition/divestiture-related and non-recurring expenses ​ ​ 1,733 ​ ​ 1,036 ​ ​ 3,370 ​ ​ 2,196 Impairment of goodwill ​ ​ — ​ ​ — ​ ​ 70,580 ​ ​ — Loss on sales of assets, net of facility closure costs ​ ​ — ​ ​ — ​ ​ 135 ​ ​ 85 Interest expense, net ​ ​ 37,808 ​ ​ 35,814 ​ ​ 75,633 ​ ​ 75,249 Income tax expense (benefit) ​ ​ 3,098 ​ ​ 3,762 ​ ​ (9,004) ​ ​ 24,014 Net income (loss) ​ $ 3,938 ​ $ 10,553 ​ $ (36,301) ​ $ 13,968 ​

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Fiscal Year (Details)	6 Months Ended	12 Months Ended
	Jun. 29, 2024	Dec. 31, 2022
Fiscal Year
Number of weeks in fiscal period	364 days
Number of weeks in each fiscal quarter	91 days	98 days
Number of weeks in fourth fiscal quarter		371 days
Minimum
Fiscal Year
Number of years between 53 week fiscal years	5 years
Maximum
Fiscal Year
Number of years between 53 week fiscal years	6 years

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Segment Reporting (Details) - segment	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 30, 2024	Jun. 29, 2024	Dec. 30, 2023
Nature of Operations
Number of reportable segments	4	4	1

Acquisitions and Divestitures -

Acquisitions and Divestitures - Green Giant U.s & Back to Nature Divestiture (Details) - USD ($) $ in Thousands		3 Months Ended				6 Months Ended	12 Months Ended	18 Months Ended
	Jan. 03, 2023	Dec. 30, 2023	Sep. 30, 2023	Dec. 31, 2022	Oct. 01, 2022	Jun. 29, 2024	Dec. 30, 2023	Jun. 29, 2024	Dec. 15, 2022
Acquisitions and Divestitures
Total assets sold				$ 51,300
Pre-tax loss on sale of assets	$ (100)
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]								Gain (Loss) on Disposition of Assets
Back to Nature brand
Acquisitions and Divestitures
Valuation allowance recorded against deferred tax asset						$ 14,700
Back to Nature brand | Disposal group, Held for sale
Acquisitions and Divestitures
Cash received	51,414								$ 51,400
Goodwill	29,500
Inventories	7,323
Impairment of assets held for sale	(106,434)
Total assets sold	51,314
Expenses	185
Pre-tax loss on sale of assets	(85)
Intangible Assets Gross Including Goodwill		$ 157,700					$ 157,700
Goodwill and Intangible Asset Impairment					$ (103,600)
Asset Impairment Charges				$ 2,800
Back to Nature brand | Disposal group, Held for sale | Customer Relationship Intangibles
Acquisitions and Divestitures
Intangible assets	11,025
Back to Nature brand | Disposal group, Held for sale | Trademarks
Acquisitions and Divestitures
Intangible assets	$ 109,900
Green Giant U.S | Disposal group, Held for sale
Acquisitions and Divestitures
Cash received		55,200				55,166	55,200	$ 55,166
Inventories						73,563		73,563
Impairment of assets held for sale			$ 132,900
Total assets sold						193,014		193,014
Pre-tax loss on sale of assets			(137,800)				(137,700)	(137,848)
Assets held for sale before impairments			201,800
Impairment charges to loss on sale			$ 132,900
Cash due back to Seneca		400					$ 400
Additional loss on sale		$ 4,800				100
Green Giant U.S | Disposal group, Held for sale | Customer Relationship Intangibles
Acquisitions and Divestitures
Intangible assets						4,111		4,111
Green Giant U.S | Disposal group, Held for sale | Trademarks
Acquisitions and Divestitures
Intangible assets						$ 115,340		$ 115,340

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Inventories
Raw materials and packaging	$ 105,450	$ 92,707
Work-in-process	85,034	128,073
Finished goods	369,110	348,200
Inventories	$ 559,594	$ 568,980

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets (Details) $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 29, 2024 USD ($)	Mar. 30, 2024 segment	Jul. 01, 2023 USD ($)	Jun. 29, 2024 USD ($) segment	Jul. 01, 2023 USD ($)	Dec. 30, 2023 USD ($) segment
Goodwill and Other Intangible Assets
Amortization expense	$ 5,111		$ 5,211	$ 10,223	$ 10,452
Number of reportable segments | segment		4		4		1
Amortizable Intangible Assets
Finite-Lived Intangible Assets, Gross	392,953			$ 392,953		$ 393,035
Accumulated Amortization	214,051			214,051		203,842
Net Carrying Amount	178,902			178,902		189,193
Unamortizable Intangible Assets
Goodwill	548,589			548,589		619,399
Total indefinite-lived intangible assets	1,986,734			1,986,734		2,058,042
Indefinite-Lived Intangible Assets, including Goodwill	2,165,636			2,165,636		2,247,235
Future amortization expense
Remainder of fiscal 2023	10,200			10,200
2024	20,400			20,400
2025	20,400			20,400
2026	19,700			19,700
2027	14,800			14,800
2028	12,900			12,900
2029	12,700			12,700
Acquisitions.
Impairment of intangible assets				0	$ 0
Trademarks
Unamortizable Intangible Assets
Unamortizable intangible assets excluding goodwill	1,438,145			1,438,145		1,438,643
Trademarks
Amortizable Intangible Assets
Finite-Lived Intangible Assets, Gross	6,800			6,800		6,800
Accumulated Amortization	5,062			5,062		4,836
Net Carrying Amount	1,738			1,738		1,964
Customer Relationship Intangibles
Amortizable Intangible Assets
Finite-Lived Intangible Assets, Gross	386,153			386,153		386,235
Accumulated Amortization	208,989			208,989		199,006
Net Carrying Amount	$ 177,164			$ 177,164		$ 187,229

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Carrying amount of goodwill by operating segment (Details) $ in Thousands	6 Months Ended
	Jun. 29, 2024 USD ($)
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 619,399
Currency translation	(230)
Impairment	(70,580)
Goodwill, Ending Balance	548,589
Specialty | Operating Segments
Goodwill [Line Items]
Goodwill, Beginning Balance	224,366
Currency translation	(230)
Goodwill, Ending Balance	224,136
Meals | Operating Segments
Goodwill [Line Items]
Goodwill, Beginning Balance	143,020
Goodwill, Ending Balance	143,020
Frozen & Vegetables | Operating Segments
Goodwill [Line Items]
Goodwill, Beginning Balance	70,580
Impairment	(70,580)
Spices & Flavor Solutions | Operating Segments
Goodwill [Line Items]
Goodwill, Beginning Balance	181,433
Goodwill, Ending Balance	$ 181,433

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Change in Reporting Structure for Certain Brands (Details) $ in Thousands	6 Months Ended
	Jun. 29, 2024 USD ($)
Goodwill [Line Items]
Impairment	$ 70,580
Measurement Input, Discount Rate [Member]
Goodwill [Line Items]
Reporting Units, Measurement Input	8
Frozen & Vegetables | Operating Segments
Goodwill [Line Items]
Impairment	$ 70,580

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 30, 2024	Jun. 29, 2024	Jul. 12, 2024	Jul. 11, 2024	Apr. 30, 2024	Dec. 30, 2023	Oct. 10, 2023	Sep. 30, 2023	Sep. 26, 2023	Sep. 26, 2019	Nov. 20, 2017	Apr. 03, 2017
Information related to long-term debt
Outstanding principal		$ 2,062,017
Unamortized deferred debt financing costs		(14,527)				$ (15,319)
Unamortized discount/premium		(3,064)				(3,610)
Total long-term debt, net of unamortized deferred debt financing costs and discount/premium		2,044,426				2,045,088
Current portion of long-term debt		(265,392)				(22,000)
Long-term debt, net of unamortized deferred debt financing costs and discount/premium, and excluding current portion		1,779,034				2,023,088
Revolving credit loans
Information related to long-term debt
Outstanding principal		190,000				170,000
Tranche B Term Loan 2026
Information related to long-term debt
Outstanding principal		507,310				528,625
Debt repurchased face amount					$ 21,300	22,000
5.25% senior notes due 2025
Information related to long-term debt
Outstanding principal		$ 265,392				$ 265,392
Interest rate (as a percent)		5.25%				5.25%	5.25%				5.25%	5.25%
Debt repurchased face amount						$ 79,200
5.25% senior notes due 2027
Information related to long-term debt
Outstanding principal		$ 550,000				$ 550,000
Interest rate (as a percent)		5.25%				5.25%				5.25%		5.25%
8.00% senior secured notes due 2028
Information related to long-term debt
Outstanding principal		$ 549,315				$ 550,000
Interest rate (as a percent)	8%	8%			8%	8%	8%	8%	8%
Debt repurchased face amount					$ 700
Aggregate principal amount (in percent)	100%	100%
Subsequent event
Information related to long-term debt
Outstanding principal			$ 2,094,707
Subsequent event | Revolving credit loans
Information related to long-term debt
Total long-term debt, net of unamortized deferred debt financing costs and discount/premium			30,000
Subsequent event | Tranche B Term Loan 2026
Information related to long-term debt
Outstanding principal			450,000	$ 507,300
Subsequent event | 8.00% senior secured notes due 2028
Information related to long-term debt
Total long-term debt, net of unamortized deferred debt financing costs and discount/premium			$ 799,300
Interest rate (as a percent)			8%
Maximum | 8.00% senior secured notes due 2028
Information related to long-term debt
Debt repurchased face amount	$ 22,000

Long-Term Debt - Contractual Ma

Long-Term Debt - Contractual Maturities (Details) - USD ($) $ in Thousands	Jul. 12, 2024	Jun. 29, 2024
Aggregate contractual maturities of long-term debt
2025		$ 455,392
2026		507,310
2027		550,000
2028		549,315
Total		$ 2,062,017
Subsequent event
Aggregate contractual maturities of long-term debt
2025	$ 265,392
2027	550,000
2028	829,315
Thereafter	450,000
Total	$ 2,094,707

Long-Term Debt - Activity (Deta

Long-Term Debt - Activity (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
	Jul. 12, 2024	Sep. 30, 2023	Jun. 29, 2024	Mar. 30, 2024	Apr. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Dec. 30, 2023	Jul. 11, 2024	Apr. 30, 2024	Oct. 12, 2023	Oct. 10, 2023	Sep. 26, 2023	Sep. 26, 2019	Nov. 20, 2017	Apr. 03, 2017
Information related to senior notes
Outstanding principal			$ 2,062,017			$ 2,062,017
Aggregate principal amount prepaid						685	$ 121,000
Aggregate principal amount			2,044,426			2,044,426		$ 2,045,088
Gain on extinguishment of debt							$ 786
Accrued Interest
Accrued interest			25,900			25,900		24,500
Subsequent event
Information related to senior notes
Outstanding principal	$ 2,094,707
Revolving Credit Facility | Base rate | Minimum
Information related to senior notes
Interest rate added to variable base rate (as a percent)	0.50%
Revolving Credit Facility | Base rate | Maximum
Information related to senior notes
Interest rate added to variable base rate (as a percent)	1%
Revolving Credit Facility | SOFR | Minimum
Information related to senior notes
Interest rate added to variable base rate (as a percent)	1.50%
Revolving Credit Facility | SOFR | Maximum
Information related to senior notes
Interest rate added to variable base rate (as a percent)	2%
Revolving credit loans
Information related to senior notes
Outstanding principal			190,000			190,000		170,000
Outstanding letters of credit			5,100			5,100
Available borrowing capacity			$ 604,900			$ 604,900
Revolving credit loans | Subsequent event
Information related to senior notes
Maximum capacity available	$ 475,000								$ 800,000
Outstanding letters of credit	5,100
Available borrowing capacity	$ 439,900
Commitment fees (as a percent)	0.50%
Aggregate principal amount prepaid	$ 175,000
Aggregate principal amount	$ 30,000
Revolving credit loans | Minimum | Subsequent event
Information related to senior notes
Consolidated leverage ratio	1.75
Revolving credit loans | Maximum | Subsequent event
Information related to senior notes
Consolidated leverage ratio	7
Senior secured leverage ratio	4
Letters of credit facility | Subsequent event
Information related to senior notes
Maximum capacity available	$ 50,000
Fronting fee (as a percent)	0.25%
4.625% senior notes due 2021
Information related to senior notes
Interest rate (as a percent)			4.625%			4.625%
5.25% senior notes due 2025
Information related to senior notes
Debt issuance price (as a percent)															101%	100%
Outstanding principal			$ 265,392			$ 265,392		$ 265,392
Principal amount of notes															$ 400,000	$ 500,000
Interest rate (as a percent)			5.25%			5.25%		5.25%				5.25%			5.25%	5.25%
Redeemed amount											$ 555,400
Percentage of principal amount redeemed or which may redeem								97.24%
5.25% senior notes due 2025 | Redemption period one
Information related to senior notes
Redemption price (as a percent)						100%
5.25% senior notes due 2027
Information related to senior notes
Debt issuance price (as a percent)														100%
Outstanding principal			$ 550,000			$ 550,000		$ 550,000
Principal amount of notes														$ 550,000
Interest rate (as a percent)			5.25%			5.25%		5.25%						5.25%		5.25%
5.25% senior notes due 2027 | Redemption period one
Information related to senior notes
Redemption price (as a percent)						102.625%
5.25% senior notes due 2027 | Redemption period two
Information related to senior notes
Redemption price (as a percent)						101.313%
5.25% senior notes due 2027 | Redemption period three
Information related to senior notes
Redemption price (as a percent)						100%
8.00% senior secured notes due 2028
Information related to senior notes
Debt issuance price (as a percent)													99.502%
Outstanding principal			$ 549,315			$ 549,315		$ 550,000
Principal amount of notes													$ 550,000
Interest rate (as a percent)		8%	8%	8%		8%		8%		8%		8%	8%
Redemption price (as a percent)						101%
Aggregate principal amount (in percent)				100%		100%
Net proceeds from issuance of long-term debt		$ 538,300
8.00% senior secured notes due 2028 | Redemption Prior to September 15, 2025
Information related to senior notes
Redemption price (as a percent)						108%
Percentage of principal amount redeemed or which may redeem						40%
8.00% senior secured notes due 2028 | Redemption beginning September 15, 2025
Information related to senior notes
Redemption price (as a percent)						104%
8.00% senior secured notes due 2028 | Redemption on or after September 15, 2026
Information related to senior notes
Redemption price (as a percent)						102%
8.00% senior secured notes due 2028 | Redemption on or after September 15, 2027
Information related to senior notes
Redemption price (as a percent)						100%
8.00% senior secured notes due 2028 | Subsequent event
Information related to senior notes
Debt issuance price (as a percent)	100.50%
Principal amount of notes	$ 250,000
Interest rate (as a percent)	8%
Aggregate principal amount	$ 799,300
Tranche B Term Loan 2026
Information related to senior notes
Outstanding principal			$ 507,310			$ 507,310		$ 528,625
Mandatory prepayment of loans					$ 50,000
Optional prepayment of loans					$ 71,000
Repayment of Amortized Debt			$ 21,300
Tranche B Term Loan 2026 | Subsequent event
Information related to senior notes
Outstanding principal	$ 450,000								$ 507,300
New Tranche B Term Loan Due 2029 | Subsequent event
Information related to senior notes
Debt issuance price (as a percent)	99%
Outstanding principal	$ 450,000
Amortization rate	1%
Percentage of repayment fee	1%
New Tranche B Term Loan Due 2029 | Base rate | Subsequent event
Information related to senior notes
Interest rate added to variable base rate (as a percent)	2.50%
New Tranche B Term Loan Due 2029 | SOFR | Subsequent event
Information related to senior notes
Interest rate added to variable base rate (as a percent)	3.50%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Jun. 30, 2024	Dec. 30, 2023
Financial assets and liabilities at fair value
Long-term Debt.	$ 2,044,426		$ 2,044,426			$ 2,045,088
Changes in level 3
Level 3 activity	$ 0	$ 0	$ 0	$ 0
Tranche B term loans due 2026
Financial assets and liabilities at fair value
Face amount of senior notes					$ 507,300	$ 528,600
5.25% senior notes due 2025
Financial assets and liabilities at fair value
Interest rate (as a percent)	5.25%		5.25%			5.25%
Face amount of senior notes	$ 265,400		$ 265,400
5.25% senior notes due 2027
Financial assets and liabilities at fair value
Interest rate (as a percent)	5.25%		5.25%			5.25%
8.00% senior secured notes due 2028
Financial assets and liabilities at fair value
Interest rate (as a percent)	8%		8%			8%
Face amount of senior notes	$ 549,300		$ 549,300			$ 550,000
Carrying Value | Revolving credit loans
Financial assets and liabilities at fair value
Term loans and senior notes, fair value	190,000		190,000			170,000
Carrying Value | Tranche B term loans due 2026
Financial assets and liabilities at fair value
Term loans and senior notes, fair value	506,517		506,517			527,443
Carrying Value | 5.25% senior notes due 2025
Financial assets and liabilities at fair value
Term loans and senior notes, fair value	265,516		265,516			265,592
Carrying Value | 5.25% senior notes due 2027
Financial assets and liabilities at fair value
Term loans and senior notes, fair value	550,000		550,000			550,000
Carrying Value | 8.00% senior secured notes due 2028
Financial assets and liabilities at fair value
Term loans and senior notes, fair value	546,920		546,920			547,372
Fair value measured on recurring basis | Fair Value | Revolving credit loans | Level 2
Financial assets and liabilities at fair value
Term loans and senior notes, fair value	190,000		190,000			170,000
Fair value measured on recurring basis | Fair Value | Tranche B term loans due 2026
Financial assets and liabilities at fair value
Term loans and senior notes, fair value	501,452		501,452			522,169
Fair value measured on recurring basis | Fair Value | 5.25% senior notes due 2025 | Level 1
Financial assets and liabilities at fair value
Term loans and senior notes, fair value	263,193		263,193			261,608
Fair value measured on recurring basis | Fair Value | 5.25% senior notes due 2027
Financial assets and liabilities at fair value
Term loans and senior notes, fair value	507,375		507,375			497,750
Fair value measured on recurring basis | Fair Value | 8.00% senior secured notes due 2028
Financial assets and liabilities at fair value
Term loans and senior notes, fair value	$ 555,124		$ 555,124			$ 572,688

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023	Apr. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Reclassification from AOCLI
Tax expense	$ 3,098		$ 3,762		$ (9,004)	$ 24,014
Net of tax	(3,938)	$ 40,239	(10,553)	$ (3,415)	36,301	(13,968)
Defined benefit pension plan | Amount Reclassified from AOCLI
Reclassification from AOCLI
Total before tax	(14)		(11)		(25)	(11)
Tax expense	3		5		6	5
Net of tax	(11)		(6)		(19)	(6)
Amortization of unrecognized gain | Amount Reclassified from AOCLI
Reclassification from AOCLI
Total before tax	$ (14)		$ (11)		$ (25)	$ (11)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive (Loss) Income - Changes in AOCLI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Changes in accumulated other comprehensive income
Beginning balance	$ 781,220	$ 861,819	$ 835,463	$ 868,166
Net current period other comprehensive loss	(8,542)	4,573	(8,455)	9,733
Ending balance	765,011	866,363	765,011	866,363
Defined Benefit Pension Plan
Changes in accumulated other comprehensive income
Beginning balance			4,308
Amounts reclassified from AOCLI			(19)
Net current period other comprehensive loss			(19)
Ending balance	4,289		4,289
Foreign Currency Translation Adjustments
Changes in accumulated other comprehensive income
Beginning balance			(1,711)
Other comprehensive loss before reclassifications			(8,436)
Net current period other comprehensive loss			(8,436)
Ending balance	(10,147)		(10,147)
Accumulated Other Comprehensive (Loss) Income
Changes in accumulated other comprehensive income
Beginning balance	2,684	(4,189)	2,597	(9,349)
Other comprehensive loss before reclassifications			(8,436)
Amounts reclassified from AOCLI			(19)
Net current period other comprehensive loss			(8,455)
Ending balance	$ (5,858)	$ 384	$ (5,858)	$ 384

Stockholders' Equity - At-The-M

Stockholders' Equity - At-The-Market Equity Offering Program (Details) - ATM Equity Offering - shares	Jun. 29, 2024	May 17, 2023
Stockholders' Equity
Common stock available for issuance under the plan	3,667,154
Shares of common stock available for grant	4,893,337	5,000,000

Pension Benefits (Details)

Pension Benefits (Details)	6 Months Ended
	Jun. 29, 2024 plan
Pension Benefits
Number of defined benefit pension plans sponsored by company	4
Percentage of employees covered by defined benefit pension plans	21%
Number of defined benefit pension plans sponsored by company for union employees	3
Number of defined benefit pension plans sponsored by company for salaried and certain hourly employees	1

Pension Benefits - Net Periodic

Pension Benefits - Net Periodic Pension Cost, AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Components of net periodic pension cost
Service cost-benefits earned during the period	$ 1,267	$ 1,305	$ 2,555	$ 2,593
Interest cost on projected benefit obligation	1,899	1,858	3,798	3,718
Expected return on plan assets	(2,931)	(2,782)	(5,861)	(5,563)
Amortization of unrecognized (gain) loss	(14)	(11)	(25)	(11)
Net periodic pension cost	221	$ 370	467	737
Employer contributions			0	$ 0
Contributions made for the remainder	$ 2,500		$ 2,500

Pension Benefits - Multi-Employ

Pension Benefits - Multi-Employer Defined Benefit Pension Plan (Details) $ in Millions	6 Months Ended
	Jun. 29, 2024 USD ($)
Multi-Employer Defined Benefit Pension Plan
Defined benefit plan withdrawal liability payout period	20 years
Defined benefit plan, withdrawal liability, annual installments	$ 0.9
Defined benefit plan, withdrawal liability	$ 12.6

Leases (Details)

Leases (Details)	6 Months Ended
	Jun. 29, 2024
Lessee, Lease, Description [Line Items]
Option to terminate	true
Operating lease existence of option To terminate	true
Lessee, Operating Lease, Terminate Term	1 year
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	7 years
Remaining lease term	10 years

Leases - Operating Leases and F

Leases - Operating Leases and Finance Leases on Balance Sheets (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Right-of-use assets:
Operating lease right-of-use assets	$ 64,140	$ 70,046
Finance lease right-of-use assets	1,303	1,832
Total lease right-of-use assets	65,443	71,878
Operating lease liabilities:
Current portion of operating lease liabilities	17,841	16,939
Long-term operating lease liabilities, net of current portion	46,517	53,724
Total operating lease liabilities	64,358	70,663
Finance lease liabilities:
Current portion of finance lease liabilities	1,082	1,070
Long-term finance lease liabilities, net of current portion	183	726
Total finance lease liabilities	$ 1,265	$ 1,796

Leases - Supplemental informati

Leases - Supplemental information related to leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Leases
Cash paid for amounts included in the measurement of operating lease liabilities	$ 5,033	$ 4,488	$ 9,901	$ 9,082
Cash paid for amounts included in the measurement of finance lease liabilities	274	274	549	549
Cost of goods sold	2,799	2,728	6,061	5,464
Selling, general and administrative expenses	1,709	1,727	3,419	3,441
Total operating lease costs	4,508	4,455	9,480	8,905
Depreciation of finance right-of-use assets	265	266	529	530
Interest on finance lease liabilities	8	14	18	30
Total finance lease costs	273	280	547	560
Total net lease costs	4,781	4,735	10,027	9,465
Total rent expense	$ 4,800	$ 5,100	$ 10,200	$ 10,100

Leases - Lease term and discoun

Leases - Lease term and discount rate for our ROU (Details)	Jun. 29, 2024	Dec. 30, 2023
Leases
Weighted average remaining lease term - Operating leases (years)	4 years 7 months 6 days	4 years 10 months 24 days
Weighted average remaining lease term - Finance lease (years)	1 year 2 months 12 days	1 year 8 months 12 days
Weighted average discount rate - Operating leases	3.78%	3.77%
Weighted average discount rate - Finance lease	2.30%	2.30%

Leases - Maturity of lease liab

Leases - Maturity of lease liabilities (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 30, 2023
Operating Leases
2024 remaining	$ 9,872
2025	19,610
2026	14,144
2027	9,563
2028	7,989
Thereafter	8,816
Total undiscounted future minimum lease payments	69,994
Less: Imputed interest	(5,636)
Total present value of future operating lease liabilities	64,358	$ 70,663
Finance Lease
2024 remaining	549
2025	732
Total undiscounted future minimum lease payments	1,281
Less: Imputed interest	(16)
Total present value of future finance lease liabilities	1,265	$ 1,796
Total Maturities of Lease Liabilities
2024 remaining	10,421
2025	20,342
2026	14,144
2027	9,563
2028	7,989
Thereafter	8,816
Total undiscounted future minimum lease payments	71,275
Less: Imputed interest	(5,652)
Total present value of future lease liabilities	$ 65,623

Commitments and Contingencies -

Commitments and Contingencies - Collective Bargaining (Details)	6 Months Ended
	Jun. 29, 2024 employee
Information related to Collective Bargaining Agreements
Number of employees	2,924
Number of employees covered under collective bargaining agreements
Information related to Collective Bargaining Agreements
Number of employees	1,560
Percentage of employees	53.40%
Number of employees covered under collective bargaining agreements expiring with next 12 months
Information related to Collective Bargaining Agreements
Collective bargaining agreements expiration period	12 months
Number of employees covered under collective bargaining agreements expiring with next 12 months | Collective Bargaining Agreement Covering Ankey Facility Member
Information related to Collective Bargaining Agreements
Number of employees	311

Earnings (Loss) per Share (Deta

Earnings (Loss) per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Earnings (Loss) per Share
Antidilutive securities excluded from computation of loss per share	1,745,750	1,695,755		1,695,755
Weighted average shares outstanding:
Basic (in shares)	79,082,857	72,237,482	78,865,241	72,008,119
Net effect of potentially dilutive share-based compensation awards (in shares)	306,287	142,332		79,063
Diluted (in shares)	79,389,144	72,379,814	78,865,241	72,087,182

Business and Credit Concentra_2

Business and Credit Concentrations and Geographic Information - Narratives (Details)	6 Months Ended		12 Months Ended
	Jun. 29, 2024 customer segment	Jul. 01, 2023 customer	Dec. 30, 2023 customer segment
Business and Credit Concentrations
Number of operating segments | segment	4		1
Net sales | Consolidated net sales | Foreign
Business and Credit Concentrations
Percentage of concentration risk	8.90%	8.60%
Net sales | Consolidated net sales | Top ten customers
Business and Credit Concentrations
Number of top customers	10	10
Percentage of concentration risk	62.90%	61.10%
Net sales | Consolidated net sales | Other than Walmart
Business and Credit Concentrations
Percentage of concentration risk	31.10%	29.70%
Accounts receivable | Trade accounts receivables | Top ten customers
Business and Credit Concentrations
Number of top customers	10		10
Percentage of concentration risk	67.30%		63.10%
Accounts receivable | Trade accounts receivables | Other than Walmart
Business and Credit Concentrations
Percentage of concentration risk	34.70%		30.70%

Share-Based Payments - Stock Op

Share-Based Payments - Stock Options (Details) - Employee Stock Option - $ / shares	6 Months Ended		12 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Dec. 30, 2023
Options
Outstanding at beginning of fiscal (in shares)	1,745,750
Granted (in shares)	71,268
Outstanding at end of fiscal (in shares)	1,817,018		1,745,750
Exercisable at end of fiscal (in shares)	845,750
Weighted Average Exercise Price
Outstanding at beginning of fiscal (in dollars per share)	$ 25.11
Granted (in dollars per share)	9.59
Outstanding at end of fiscal (in dollars per share)	24.50		$ 25.11
Exercisable at end of fiscal ( in dollars per share)	$ 30.13
Weighted Average Contractual Life Remaining (Years)
Weighted Average Contractual Life Remaining (Years)	7 years 18 days		7 years 5 months 8 days
Exercisable, Weighted Average Contractual Life Remaining (Years)	5 years 2 months 1 day
Assumptions:
Weighted average grant date fair value (in dollars per share)	$ 2.32	$ 2.71
Expected volatility (as a percent)	48.19%
Expected volatility, minimum (as a percent)		39.60%
Expected volatility, maximum (as a percent)		43.30%
Expected term	5 years 6 months
Risk-free interest rate (as a percent)	4.40%
Dividend yield (as a percent)	7.90%
Minimum
Assumptions:
Expected term		5 years 6 months
Maximum
Assumptions:
Expected term		8 years 3 months 18 days

Share-Based Payments - Performa

Share-Based Payments - Performance (Details) - Performance Shares	6 Months Ended
	Jun. 29, 2024 $ / shares shares
Number of Shares
Balance at the beginning of the period (in shares) | shares	1,606,768
Granted (in shares) | shares	1,451,362
Forfeited (in shares) | shares	(301,173)
Balance at the end of the period (in shares) | shares	2,756,957
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 17.29
Granted (in dollars per share) | $ / shares	9.21
Forfeited (in dollars per share) | $ / shares	26.50
Balance at the end of the period (in dollars per share) | $ / shares	$ 12.03
Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Percentage of target number of shares that may be earned	233.333%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award
Percentage of target number of shares that may be earned	300%

Share-Based Payments - Restrict

Share-Based Payments - Restricted Stock (Details) - Restricted Stock	6 Months Ended
	Jun. 29, 2024 $ / shares shares
Number of Shares
Balance at the beginning of the period (in shares) | shares	369,573
Granted (in shares) | shares	479,746
Vested (in shares) | shares	(138,953)
Forfeited (in shares) | shares	(2,143)
Balance at the end of the period (in shares) | shares	708,223
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per share) | $ / shares	$ 16.65
Granted (in dollars per share) | $ / shares	11.36
Vested (in dollars per share) | $ / shares	17.73
Forfeited (in dollars per share) | $ / shares	14.41
Balance at the end of the period (in dollars per share) | $ / shares	$ 12.86

Share-Based Payments - Other Ve

Share-Based Payments - Other Vested (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Class A common stock
Share based compensation expense related to long-term incentive plans
Net shares of common stock issued	112,394	79,773	539,467	623,429
Performance Shares | Class A common stock
Share based compensation expense related to long-term incentive plans
Number of performance shares vested				360,926
Shares withheld and cancelled for tax withholding upon vesting				(131,803)
Shares of common stock issued				229,123
Restricted Stock
Share based compensation expense related to long-term incentive plans
Number of performance shares vested			138,953
Restricted Stock | Class A common stock
Share based compensation expense related to long-term incentive plans
Shares withheld and cancelled for tax withholding upon vesting	(2,671)	(960)	(54,668)	(14,448)
Shares of restricted stock cancelled upon forfeiture	(1,467)	(2,184)	(2,143)	(2,598)
Restricted Stock | Employee | Class A common stock
Share based compensation expense related to long-term incentive plans
Shares of common stock issued		1,386	479,746	329,821
Annual Equity Grants | Non-Employee Directors | Non-employee director | Class A common stock
Share based compensation expense related to long-term incentive plans
Shares of common stock issued	116,532	81,531	116,532	81,531

Share-Based Payments - Share-ba

Share-Based Payments - Share-based payments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Compensation expense
Total compensation expense for share-based payments	$ 2,612	$ 2,374	$ 4,395	$ 3,301
Performance Shares | LTIA 2019-2023 Plan
Compensation expense
Unrecognized compensation expense, other than stock option	9,600		$ 9,600
Period over which unrecognized compensation expense is expected to be recognized			2 years 6 months
Restricted Stock | LTIA 2019-2023 Plan
Compensation expense
Unrecognized compensation expense, other than stock option	7,400		$ 7,400
Period over which unrecognized compensation expense is expected to be recognized			2 years 8 months 12 days
Employee Stock Option | LTIA 2019-2023 Plan
Compensation expense
Unrecognized compensation expense, stock option	1,900		$ 1,900
Period over which unrecognized compensation expense is expected to be recognized			3 years 7 months 6 days
Cost of Goods Sold
Compensation expense
Total compensation expense for share-based payments	299	620	$ 461	734
Selling, General and Administrative Expenses
Compensation expense
Total compensation expense for share-based payments	$ 2,313	$ 1,754	$ 3,934	$ 2,567

Business Segment Information -

Business Segment Information - Narrative (Details) - segment	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 30, 2024	Jun. 29, 2024	Dec. 30, 2023
Segment Reporting Information [Line Items]
Number of reportable segments	4	4	1
Number Of business units		4
Number of operating segments		4	1

Business Segment Information _2

Business Segment Information - Operating segment results (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023	Apr. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Segment Reporting Information [Line Items]
Net sales	$ 444,590		$ 469,637		$ 919,813	$ 981,451
Adjusted EBITDA	63,920		68,451		138,965	150,816
Depreciation and amortization	17,343		17,286		34,552	35,304
Acquisition/divestiture-related and non-recurring expenses	1,733		1,036		3,370	2,196
Impairment of goodwill					70,580
Loss on sales of assets, net of facility closure costs					135	85
Interest expense, net	37,808		35,814		75,633	75,249
Income tax expense (benefit)	3,098		3,762		(9,004)	24,014
Net income (loss)	3,938	$ (40,239)	10,553	$ 3,415	(36,301)	13,968
Operating Segments
Segment Reporting Information [Line Items]
Adjusted EBITDA	87,054		92,618		186,374	196,474
Operating Segments | Specialty
Segment Reporting Information [Line Items]
Net sales	146,624		153,837		301,353	316,460
Adjusted EBITDA	31,688		32,706		68,880	69,190
Operating Segments | Meals
Segment Reporting Information [Line Items]
Net sales	107,889		114,143		227,920	236,092
Adjusted EBITDA	23,911		23,024		49,540	49,262
Operating Segments | Frozen & Vegetables
Segment Reporting Information [Line Items]
Net sales	91,580		107,762		196,467	233,968
Adjusted EBITDA	3,808		10,775		11,638	21,229
Impairment of goodwill					70,580
Operating Segments | Spices & Flavor Solutions
Segment Reporting Information [Line Items]
Net sales	98,497		93,895		194,073	194,931
Adjusted EBITDA	27,647		26,113		56,316	56,793
Corporate Non Segment
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ (23,134)		$ (24,167)		$ (47,409)	$ (45,658)

Subsequent Events (Details)

Subsequent Events (Details) - 8.00% senior secured notes due 2028 - USD ($) $ in Millions	Jul. 12, 2024	Jun. 29, 2024	Apr. 30, 2024	Mar. 30, 2024	Dec. 30, 2023	Oct. 10, 2023	Sep. 30, 2023	Sep. 26, 2023
Subsequent Event [Line Items]
Face amount of senior notes								$ 550
Interest rate (as a percent)		8%	8%	8%	8%	8%	8%	8%
Subsequent event
Subsequent Event [Line Items]
Face amount of senior notes	$ 250
Interest rate (as a percent)	8%