Dive Summary:
- Campbell Soup Company revealed Monday that is is negotiating the sale of its European business to CVC Capital Partners, a global private equity firm that has made a firm offer for the business.
- The potential sale doesn't include Campbell's or Pepperidge Farm products exported throughout Europe, Denmark's Kelsen Group, or Campbell's U.K., Middle Eastern or African products.
- Current projections have the proposed sale being completed during the first quarter of fiscal 2014, and the businesses included brought in annual net sales of around $530 million during fiscal 2012.
From the article:
... The proposed transaction includes Campbell’s national brands of soups, sauces and simple meals, including Liebig and Royco in France, Erasco in Germany, Blå Band in Sweden and Devos Lemmens and Royco in Belgium. The proposal also includes the sale of four plants in Puurs, Belgium; Le Pontet, France; Lubeck, Germany; and Karpalund, Sweden. ...