CVC To Buy Campbell's European Businesses

Aug 12 2013 | 10:09am ET

Private-equity firm CVC Capital Partners is near a deal to buy some of Campbell Soup Co.'s European businesses.

Among the brand-names on the table are France's Liebing and Royco, Germany's Erasco, Sweden's Blå Band, and Belgium's Devos Lemmens and Royco, as well as four plants, Campbell's said. The businesses on the block have annual net sales of more than US$500 million; Campbell's has total sales in excess of US$7.5 billion.

Terms of the deal are unclear. The two sides are holding final negotiations and the agreement is expected to be completed by the end of October.

Not included in the proposed sale are Campbell's export of Pepperidge Farm products or Campbell's products in the U.K., the Middle East and Africa. Campbell's will also hold on to Danish cookie-maker Kelsen Group.

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