Campbell Soup Plans Selloff of Several European Food Units
- Share via
CAMDEN, N.J. — Campbell Soup Co. said today it plans to sell several of its European food units in an effort to focus on its more profitable businesses.
On the auction block are D. Lazzaroni & C. SpA of Italy; Campbell Seafoods Division, which operates in the United Kingdom and Belgium; the vegetable division of Campbell Foods PLC in England; and Campbell Irish Foods Ltd. and Mallow Foods Ltd., both of Ireland.
The latter three companies were acquired when Campbell took over Freshbake Foods Group PLC of Britain in 1988. Total sales of all the businesses to be sold exceed $200 million, the company said.
Campbell said it expects the sale to result in a $55-million charge against fourth-quarter earnings.
Campbell has faced increasing problems over the last year and has been frequently rumored as a takeover target because of its sluggish performance and depressed stock price. Some members of the founding family have urged a sale of the entire company.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
