Dive Brief:

• Campbell Soup Co. is selling European brands Liebig, Royco, Erasco, Bia Band and Devos Lemmens to CVC Capital Partners for €400 million ($541 million).
• The deal doesn't include Denmark's Kelsen Group, which was acquired in June.
• The move comes as Campbell shifts more of its focus to its core North American soup and meal business, and some of the proceeds from the CVC deal will be used to pay down corporate debt.

Dive Insight:

Campbell initially revealed the talks with CVC in August. Also excluded from the deal are Campbell's products exported to Europe and its U.K., Middle Eastern and African businesses. Following a disappointing Q4, the company's increased focus on its North American business also includes an expansion beyond canned soup, which has seen waning consumer interest of late. The renowned soup maker is also countering this with new types of packaging.