Campbell completes sale of its European simple meals business
Posted: 28 October 2013 | Campbell Soup Company | No comments yet
Campbell Soup Company announced that it has completed the sale of its European simple meals business to CVC Capital Partners…
Campbell Soup Company (NYSE:CPB) announced today that it has completed the sale of its European simple meals business to CVC Capital Partners (CVC), a leading global private equity firm, for a purchase price of 400 million euro.
On Oct. 1, 2013, Campbell announced that it had signed a definitive agreement for the sale of its 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 transaction also includes four plants in Puurs, Belgium; Le Pontet, France; Lubeck, Germany; and Karpalund, Sweden.
The agreement does not include Campbell’s recently-acquired Kelsen Group, which will continue its operations in Denmark and the export of its products to countries in Europe and throughout the world. Campbell will continue to export Pepperidge Farm products throughout Europe and Campbell’s products in the United Kingdom, the Middle East and Africa.