Campbell Soup nears sale of some European interests

By Rod Addy

- Last updated on GMT

Campbell Soup's deal will not cover products in the UK, Middle East or Africa or Denmark's Kelsen Group
Campbell Soup's deal will not cover products in the UK, Middle East or Africa or Denmark's Kelsen Group
Campbell Soup Company plans to sell some of its business in Europe to private equity firm CVC Capital Partners and has announced it is in final and exclusive negotiations to clinch the deal.

The proposed transaction will not cover products in the UK, Middle East or Africa or the Kelsen Group, which will continue operations in Denmark and global exports. 

However, aside from that, it does include 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.

Sale of four plants

The proposal also includes the sale of four plants in Puurs, Belgium; Le Pontet, France; Lubeck, Germany; and Karpalund, Sweden.

CVC has made a firm offer to purchase the businesses, subject to regulatory clearance, and expects to complete the sale in the first financial quarter of 2014.

The businesses included in the proposed transaction generated annual net sales of approximately $530M (£342.5M).

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