2018 is turning out to be a year of trimming for Campbell Soup Company, with the company selling its fresh food division earlier this year and now possibly its international business as well. According to a report by Reuters, sources close to the matter have revealed that Ferrero SpA, reputable Nutella maker, is in the running to buy Campbell’s international biscuits and snack segments.
Back in November, Mondelēz International was allegedly eyeing Campbell Soup’s bakery banners as well—but little has come out of that rumor since it first sent the industry abuzz.
Campbell’s international biscuits and snack business include brands like biscuit brand Arnott’s, Kelson Group, and manufacturing operations in Indonesia and Malaysia and businesses in Hong Kong and Japan. The news source reports that the Ferrero SpA could be purchasing Campbell’s brands for more than $2 billion, with Rothschild working as the transaction’s advisers.
This news comes just weeks after Campbell faced down its investors seeking restitution and alleging improper conduct, and months after the company clashed with hedge fund Third Point over the its board nominees.
Will this possible divestment of its international business settle the waters for Campbell as it heads into 2019? Deli Market News will continue to keep you apprised of the latest in deli, dairy, bakery, and specialty foods.