Deals
Campbell to Sell Europe Potato Chips Business for $80 Million
Various flavors of potato chips sit on a shelf at the Kettle Foods Inc. production facility in Salem, Oregon.
Photographer: Meg Roussos/Bloomberg
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Campbell Soup Co. agreed to sell its European potato chips business to Valeo Foods Group Ltd. for about 66 million pounds ($80 million), the soupmaker’s latest divestment as it simplifies operations.
Valeo, a Dublin-based food producer, will acquire the Yellow and Kettle brand chips for the European market, according to a statement. Campbell will retain the Kettle brand for all markets except Europe and the Middle East and use the proceeds to reduce debt.