CVC will buy 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.
The deal does not include Campbell’s recently-acquired Kelsen Group, which will continue operating in Denmark and export its products to other European countries and the rest of the world.
The company added that it will continue to export Pepperidge Farm products throughout Europe and Campbell’s products in the United Kingdom and the Middle East and Africa.
CVC entered final and exclusive negotiations to buy the brands in August after making a firm offer.
Campbell president and CEO Denise Morrison said, “This sale reflects a strategic choice. We are in the process of reshaping our portfolio to change Campbell’s future growth trajectory.
“As part of this effort, we will be focusing our investments, resources and talent on building the brands that we believe we can grow around the world, strengthening our core and expanding our business in faster-growing geographies and categories.”
Copyright © 2013 AltAssets