Campbell Soup In Talks To Sell Fresh-foods Business
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Campbell Soup Co. (CPB) is in talks to sell its fresh-foods business including Bolthouse Farms to investors led by that brand's former chief executive, the Wall Street Journal reported citing people familiar with the matter.
Jeff Dunn, who helped a private-equity firm sell Bolthouse to Campbell six years ago for $1.55 billion, subsequently co-founded and remains an investor in Campbell's venture-capital fund, Acre Venture Partners. He also had served as president of Campbell's fresh-food unit.
The fresh-foods unit, including Bolthouse's fresh carrots and refrigerated juices as well as Garden Fresh salsa and other products, has been plagued by supply-chain issues. Campbell has written down its value by about $1 billion. It could sell for between $500 million and $700 million, the report said. (dpa)
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