Campbell Soup nears sale of some European interests
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).