Campbell Soup has completed the sale of its European simple meals business to a UK private equity firm CVC Capital Partners (CVC) for €400m.
The sale includes Campbell's national brands of soups, sauces and simple meals, including Liebig and Royco in France, Erasco in Germany, Bl Band in Sweden and Devos Lemmens and Royco in Belgium. It also includes four plants in Puurs, Belgium; Le Pontet, France; Lubeck, Germany; and Karpalund, Sweden.
It excludes 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.
On 1 October 2013, Campbell had agreed to sell the European assets to CVC.
The company will continue to export Pepperidge Farm products throughout Europe and its products in the UK, and the Middle East and Africa. It intends to use the proceeds to pay down debt and for other general corporate purposes.
Established in 1869, Campbell Soup is a manufacturer and marketer of foods and simple meals, including soup and sauces, snacks and healthy beverages under the Campbell's, Pepperidge Farm, Arnott's, V8, Bolthouse Farms, Plum Organics and Kjeldsens brands.
