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Why is Campbell Selling its Fresh Food Business?
By: Abasto Magazine
Campbell makes a big change to its strategy and announced on Thursday that it is selling its Campbell Fresh division, which includes Bolthouse Farms juices, carrots and salad dressings, Garden Fresh dips and tortilla chips and its own refrigerated soups.
According to the company, proceeds from the divestitures will be used to significantly reduce debt.
Campbell's interim President and CEO Keith McLoughlin said, "Campbell's Board of Directors considered a full slate of strategic options, including optimizing the portfolio, divesting businesses, splitting the company and pursuing a sale. The Board concluded that, at this time, the best path forward to drive shareholder value is to focus the company on two core businesses in the North American market with a proven consumer packaged goods business model. Importantly, the Board remains open and committed to evaluating all strategic options to enhance value in the future."
The soup company has decided to focus on two businesses, Campbell Snacks and Campbell Meals and Beverages, in its core North American market.
Campbell is propping up its most popular brands such as Goldfish, Pepperidge Farm, Snyders, Cape Cod and Kettle chips, which will… to read the complete story, click on this link https://abasto.com/