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Campbell Soup to sell Bolthouse Farms for $510 million
Source NBC News
said on Friday it would sell its Bolthouse Farms business to an
affiliate of private equity firm Butterfly Equity for $510 million, in
the U.S. food company’s first major sale as part of its plan to reduce
With the completion of deal, expected by July 2019, Campbell
will have divested its entire fresh division, it said. In February, it
agreed to sell salsa maker Garden Fresh Gourmet to a unit of Fountain of
Health USA, which makes hummus, dips and prepared salads.
said its operating partner Jeff Dunn will take the role of chief
executive officer at Bolthouse Farms, where he previously served as
president and CEO between 2008 and 2015.
Bolthouse, known for its fruit juices and packaged carrots, in 2012 for
about $1.55 billion in a push to add healthier products to its
The business, however, has struggled in recent years,
with issues ranging from farming missteps to the recall of 3.8 million
bottles of protein shakes due to possible spoilage.