Campbell Soup Sells Production Plant in Washington State

American food firm Campbell Soup Company entered into a definitive agreement to sell its 225,000-sq-ft refrigerated soup plant in Everett, WA to an affiliate of private investment company Joshua Green Corporation, a February 21 press release announced.

“As outlined in August 2018 as part of the company’s board-led strategy and portfolio review, Campbell is in the process of divesting its Campbell Fresh and Campbell International businesses to increase the company’s focus, significantly reduce debt, and strengthen its balance sheet,” the Camden, NJ-based company said in the release.

The Campbell Fresh division includes Bolthouse Farms and Garden Fresh Gourmet. Campbell did not reveal terms of the deal, but said the transaction is expected to close in the third quarter of fiscal year 2019. 

Last Tuesday, the food company announced that it signed an agreement to sell the Garden Fresh Gourmet brand to Fountain of Health USA. Campbell also neglected to disclose the terms of that sale. Garden Fresh Gourmet produces and distributes hummus, refrigerated salsa, dips, and tortilla chips. 

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