Camden-based Campbell Soup Co. announced today it is in final and exclusive negotiations for the potential sale of its business in Europe to global private equity firm CVC Capital Partners.
In fiscal 2012, the Campbell businesses included in the proposed transaction generated annual net sales of approximately $530 million.
CVC has made a firm offer to purchase the business, the terms of which were not disclosed. The proposed transaction includes Campbell's national brands of soups, sauces and simple meals, as well as four plants in Belgium, France, Germany and Sweden.
Campbell anticipates that the proposed sale would be completed in the first quarter of its fiscal 2014. The deal does not include Kelsen Group, which will continue its operations in Denmark and the export of its products to countries in Europe and throughout the world. Campbell acquired Kelsen earlier this month.
Digital content editor Joe Ross is @joeross on Twitter.
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