CAMPBELL Soup is preparing to sell its European businesses to private equity firm CVC Capital Partners.
The deal covers operations in Belgium, Finland, France, Germany and Sweden, which together turn over $530 million (£343m) a year. Campbell’s units in Denmark, Ireland and the UK are not included.
Selling off its European operations is part of a strategy implemented by chief executive Denise Morrison after she joined the New York-listed firm two years ago. The deal – which is expected to be concluded before the end of next month – includes four factories and brands covering sauces, simple meals and soups.
CVC’s investments already include Formula 1 racing and the Virgin Active chain of gyms.