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Campbell Soup Wraps Up Sale of European Chips Business

October 22, 2019
Campbell Soup Company sold its European chips business, including the rights to the Kettle brand in Europe and the Middle East. Image courtesy of Flickr user automotocycle
Campbell Soup Company sold its European chips business, including the rights to the Kettle brand in Europe and the Middle East. Image courtesy of Flickr user automotocycle

American food firm The Campbell Soup Company recently completed the $80 million sale of its European chips business, including the U.K. firm Kettle Foods Limited and Dutch entity Yellow Chips B.V., to Valeo Foods, a company press release announced on October 11. 

Following the close of the deal, Campbell Soup said it will use funds from the sale to reduce its debt. The company will continue to own the Kettle brand business in the U.S. and other regions except for Europe and the Middle East. The American firm’s Snacks portfolio includes a wide range of brands, including Cape Cod, Pepperidge Farm, and Snyder’s of Hanover.

The European chips business brought in $130 million in net sales during fiscal year 2019. Campbell Soup and Valeo entered into an agreement on the transaction this September. 

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