A little over a month after Campbell Soup announced that it would undertake a strategic review, a major player is interested in the company.
Kraft Heinz is “very much interested in buying Campbell, according to the New York Post, and Campbell will start a sales process soon.
Further, there could be another interested party with deep pockets: General Mills.
As previously reported by FOX Business, when Campbell Soup announced that it would undertake a strategic review, its CEO Denise Morrison left the company. Kevin McLoughlin, a board member, is serving as CEO in the interim – and the results of the strategic review are expected in August.
Campbell Soup shares were rallying on Monday. If the rally continues, the company may post its largest percent increase on record. The current record is May 24, 2000, when shares rose 11.21%.
Prior to Monday’s move higher Campbell Soup shareshad fallen about 20% this year. The company completed its $6.1 billion buyout of Snyder’s-Lance in March.
By Leia Klingel
Source: Fox Business
IFF has announced that its chief financial and business transformation officer, Glenn Richter, will retire on 31 December 2024, following a three-year tenure with the company. IFF has initiated the process of selecting a successor for the CFO position, considering both internal and external candidates.
Saputo has announced that its president and CEO, Lino Saputo, will transition to the role of executive chair of the board. The transition is set to take place on 9 August, when Carl Colizza, the company’s current president and COO for North America, will assume the position.
The coffee giant said the funding will be used to install new tech, such as roasting equipment, increasing production line flexibility to make new products and flavours – including higher value-added products, – and technology updates to improve sustainability.
