Campbell Completes Sale of Kelsen Group
23 Septembre 2019 - 10:30PM
Business Wire
Campbell Soup Company (NYSE: CPB) announced today that it
has completed the sale of Kelsen Group to a Ferrero affiliated
company for a purchase price of $300 million, subject to customary
adjustments. Campbell will use the proceeds from the divestiture to
reduce debt.
Based in Nørre Snede, Denmark, Kelsen is a producer of quality
baked snacks whose primary brands include Kjeldsens and Royal
Dansk. The company has approximately 400 employees.
On Aug. 2, Campbell announced a definitive agreement to sell
Arnott’s and certain of Campbell’s International operations to KKR
for approximately $2.2 billion. Campbell continues to expect that
transaction to close in the first half of fiscal 2020.
About Campbell Soup Company
Campbell (NYSE:CPB) is driven and inspired by our Purpose, "Real
food that matters for life's moments." For generations, people have
trusted Campbell to provide authentic, flavorful and affordable
snacks, soups and simple meals, and beverages. Founded in 1869,
Campbell has a heritage of giving back and acting as a good steward
of the planet's natural resources. The company is a member of the
Standard and Poor's 500 and the FTSE4Good Index. For more
information, visit www.campbellsoupcompany.com or follow company
news on Twitter via @CampbellSoupCo.
Forward-Looking Statements
This release contains “forward-looking statements” that reflect
Campbell’s current expectations about the impact of its future
plans and performance on Campbell’s business or financial results.
These forward-looking statements rely on a number of assumptions
and estimates that could be inaccurate and which are subject to
risks and uncertainties. The factors that could cause Campbell’s
actual results to vary materially from those anticipated or
expressed in any forward-looking statement are described in
Campbell’s most recent Form 10-K and subsequent Securities and
Exchange Commission filings, and include Campbell’s ability to
execute on and realize the expected benefits from the actions it
intends to take as a result of its recent strategy and portfolio
review; the ability to differentiate its products and protect its
category leading positions, especially in soup; the ability to
complete and to realize the projected benefits of planned
divestitures and other business portfolio changes; Campbell’s
indebtedness and ability to pay such indebtedness; and changes in
currency exchange rates, tax rates, interest rates, debt and equity
markets, inflation rates, economic conditions, law, regulation and
other external factors. Campbell disclaims any obligation or intent
to update the forward-looking statements to reflect events or
circumstances after the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20190923005771/en/
INVESTOR CONTACT: Ken Gosnell (856)
342-6081 Ken_Gosnell@campbellsoup.com
MEDIA CONTACT: Thomas Hushen (856)
342-5227 Thomas_Hushen@campbellsoup.com
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