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RICHMOND, CALIFORNIA – JUNE 5: Campbell's soup pot are posted on a shelf in a grocery store on June 05, 2019 in Richmond, California. Campbell Soup Co. Announced Higher-than-Expected Profits in the Third Quarter, with Sales of $ 2.388 Billion
Getty Images
Campbell Soup announced that it would sell its Danish baked snack maker, Kelsen Group, to CTH Invest, a Belgian holding company affiliated with the Nutella manufacturer Ferrerofor $ 300 million.
The transaction is subject to customary purchase price adjustments and is expected to close during the first quarter of fiscal year 2020.
Campbell was advised by Centerview Partners, Goldman Sachs and Weil, Gotshal & amp; Manges LLP.
Kelsen, based in Nørre Snede, Denmark, was acquired by the owner of Pepperidge Farm in 2013. It is primarily known for its brands such as Kjeldsens and Royal Dansk and has achieved a net sales turnover of $ 1.99 million. approximately $ 157 million in the last 12 months.
Campbell noted that Kelsen was part of its international business, which also includes Arnott cookies, Campbell's single meals in Australia, Malaysia, Hong Kong and Japan, as well as manufacturing operations in Australia, Indonesia and Australia. Malaysia.
The process of divesting the rest of Campbell International, including Arnott, is underway.
Oreo cookie maker Mondelēz According to CNBC, he would have ended his quest for Arnott's badets in June, while other buyers of Campbell's international snack brands, including private equity firm KKR, remain in the running.
Mark Clouse, President and CEO of Campbell, said in a statement: "The sale of Kelsen Group reinforces our strategy of focusing on North America, where we have iconic brands and strong market positions, while reducing the debt.
"Throughout the divestiture process, we have considered many options for our valuable international badets. The sale of Kelsen separately from the rest of our international business generates the greatest value for Campbell. "
He added: "We are committed to divesting the rest of our international operations and will remain disciplined as we move forward."
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RICHMOND, CALIFORNIA – JUNE 5: Campbell's soup pot are posted on a shelf in a grocery store on June 05, 2019 in Richmond, California. Campbell Soup Co. Announced Higher-than-Expected Profits in the Third Quarter, with Sales of $ 2.388 Billion
Getty Images
Campbell Soup has announced that it will sell its Danish oven-baked snack maker, Kelsen Group, to CTH Invest, a Belgian holding company affiliated with the nutella Ferrero manufacturer, for $ 300 million.
The transaction is subject to customary purchase price adjustments and is expected to close during the first quarter of fiscal year 2020.
Campbell was advised by Centerview Partners, Goldman Sachs and Weil, Gotshal & Manges LLP.
Kelsen, based in Nørre Snede, Denmark, was acquired by the owner of Pepperidge Farm in 2013. It is primarily known for its brands such as Kjeldsens and Royal Dansk and has achieved a net sales turnover of $ 1.99 million. approximately $ 157 million in the last 12 months.
Campbell noted that Kelsen was part of its international business, which also includes Arnott cookies, Campbell's single meals in Australia, Malaysia, Hong Kong and Japan, as well as manufacturing operations in Australia, Indonesia and Australia. Malaysia.
The process of divesting the rest of Campbell International, including Arnott, is underway.
According to CNBC, biscuit maker Oreo Mondelēz would have ended its quest for Arnott's badets in June, while other buyers of Campbell's international snack brands, including private equity firm KKR, remain race.
Mark Clouse, President and CEO of Campbell, said in a statement: "The sale of Kelsen Group reinforces our strategy of focusing on North America, where we have iconic brands and strong market positions, while reducing the debt.
"Throughout the divestiture process, we have considered many options for our valuable international badets. The sale of Kelsen separately from the rest of our international business generates the greatest value for Campbell. "
He added: "We are committed to divesting the rest of our international operations and will remain disciplined as we move forward."
