Oct 1 Campbell Soup Co said it would
sell some of its European canned soups and meals brands to
private equity firm CVC Capital Partners for 400 million euros
Campbell said in August that it was in talks to sell some
brands to CVC Capital as it focuses on its core North American
soup and meal business and high growth areas.
CVC Capital will buy brands including Liebig and Royco in
France, Erasco in Germany, Bla Band in Sweden and Devos Lemmens
and Royco in Belgium.
The deal does not include the Kelsen Group in Denmark, which
Campbell acquired in June to boost its international presence.
Campbell said it intends to use the proceeds to pay down
debt and for other general corporate purposes.
The company is being advised by Allen & Overy LLP. CVC
Capital is being advised by Leopold Capital Partners, Barclays,
Cleary Gottlieb Steen & Hamilton LLP and Ernst & Young.