CVC has made a firm offer to purchase the business.
The proposed transaction includes 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.
The proposal also includes the sale of four plants in Puurs (Belgium), Le Pontet (France), Lubeck (Germany) and Karpalund (Sweden).
The proposed transaction doesn’t include the export of Pepperidge Farm products throughout Europe, or Campbell’s products in the UK or the Middle East or Africa. It also doesn’t include Kelsen Group, which will continue its operations in Denmark, and the export of its products to countries in Europe and throughout the world.
Campbell will conduct an information and consultation process with its European and local works councils in relation to the proposed transaction, in accordance with applicable laws.
It has the option to cause the parties to execute a binding share purchase agreement after the conclusion of the consultation process. The proposed transaction is subject to clearance by the relevant European competition law authorities.
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