Campbell Soup Co. Announces Deal to Sell Garden Fresh Gourmet
CAMDEN, NJ - After over half a year of speculation, Campbell has officially announced it inked a deal to sell Garden Fresh Gourmet, a part of the soup producer’s fresh division that sells salsas, dips, and more. The buyer is an affiliate of Fountain of Health USA, a fellow maker of prepared foods, and while the financial terms of the agreement have not yet been revealed, both parties expect the deal to close come Q3 2019.
As we first reported back in August 2018, the sale of Garden Fresh Gourmet and other Campbell Fresh businesses—including Bolthouse Farms and Campbell’s refrigerated soup business— has been in the works for some time now. At the time, Interim CEO Keith McLoughlin said the company would pivot its focus to its two core businesses: Campbell Snacks and Campbell Meals and Beverages.
The processes to sell Bolthouse Farms and Campbell International are both on-track, according to a press release. Campbell said it expects to name buyers by the end of fiscal 2019. Campbell also recently announced the sale of its Everett, Washington, refrigerated soup plant that was also part of Campbell Fresh.
Will Campbell’s other fresh brands wind up under the ownership of some familiar names in the produce industry? AndNowUKnow will continue to report.
