B&G is reportedly in the lead to acquire General Mills Green Giant

B&G is reportedly in the lead to acquire General Mills' Green Giant

US group B&G Foods is reportedly in advanced talks to buy General Mills' Green Giant frozen and canned vegetable business.

According to Reuters, citing "people familiar with the matter", B&G is in what the agency called late-stage discussions with General Mills

The deal would take B&G, which owns brands including Pirate's Booty snacks and Sclafani canned tomatoes, into the frozen aisle.

Reuters said offers had also been made by French canned and frozen food group Bonduelle, as well as by private-equity firms Cerberus Capital Management and Platinum Equity. According to the sources, all the offers would be explored should the B&G offer fail.

A deal could value Green Giant at around US$600-800m.

It was first rumoured General Mills was preparing to sell Green Giant in March and the US food group is said to have appointed investment bank Rothschild to explore the sale.

In July speculation emerged French food firm Bonduelle had also put in an offer.

B&G officials had not returned a request for comment at the time of publication.