On 12 August 2013, Campbell announced that it was in final and exclusive negotiations for the potential sale of its European simple meals business to CVC. Following the completion of information and consultation procedures conducted with its European and local works councils in accordance with applicable laws, Campbell has entered into a binding share purchase agreement with CVC.
Under the terms of the agreement, CVC will acquire Campbell’s national brands of soups, sauces and simple meals, including Liebig and Royco in France, Erasco in Germany, Blå Band in Sweden and Devos Lemmens and Royco in Belgium, for a purchase price of €400m.
The transaction also includes four plants in Puurs, Belgium; Le Pontet, France; Lubeck, Germany; and Karpalund, Sweden. Campbell intends to use the proceeds of the sale to pay down debt and for other general corporate purposes.
Source: Campbell Soup Company
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