Campbell to sell Bolthouse Farms for $510 million

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Campbell to sell Bolthouse Farms for $510 million

On Friday, the 12th of April 2019, the American producer of canned soups and related products sold in more than 120 countries across the world, the Campbell Soup Co. had issued a statement saying that the high-rated processed food business would sell its Bolthouse Farms subsidy to an affiliate of Butterfly Equity, a private equity firm, for $510 million, as the US food company had been seeking for measures to decline its stockpile of debts.

The statement had also added that the deal was expected to be completed by July 2019 and followed by the completion of the deal, the US food company would have divested their entire fresh food business.

In fact, in last February, the New-Jersey based food company, headquartered in Campden, Campbell had agreed to sell its salsa maker, Garden Fresh Gourmet to a unit of Fountain of Health USA, which makes dips, prepared salads and hummus.

Following the release of the statement, the Butterfly Equity had been quoted saying that its operating partner Jeff Dunn would be taking charge of the Bolthouse Farms, where he had previously served as CEO and President between 2008 and 2015.

None the less, Campbell purchased Bolthouse in 2012 at a $1.55 billion takeover deal, as an approach to add healthier foods in to its portfolio.