Campbell Soup in talks with CVC Capital Partners over potential sale of its business in Europe

By Elaine WATSON

- Last updated on GMT

Campbell Soup in talks with CVC to sell its European business

Related tags Business

Campbell Soup says it is in final and exclusive negotiations for the potential sale of its business in Europe - which includes soups and simple meals brands Liebig and Royco in France; Erasco in Germany; Blå Band in Sweden; and Devos Lemmens and Royco in Belgium - to private equity firm CVC Capital Partners.

The proposed sale - due to be completed in the first quarter of fiscal 2014 - includes the sale of four plants in Puurs, Belgium; Le Pontet, France; Lubeck, Germany; and Karpalund, Sweden.

However, it does not include the export of Pepperidge Farm products in Europe or Campbell’s products in the UK, the Middle East or Africa. It also excludes Danish baked snacks maker Kelsen Group, which Campbell has just acquired.

In fiscal 2012, the businesses included in the proposed transaction generated annual net sales of approximately $530m.

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