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
This initiative aims to raise funds for breast cancer charities, specifically CoppaFeel and Breast Cancer Now, and underscores the growing intersection of consumer goods and social responsibility in the food manufacturing sector.
The company will merge its Latin America and North America divisions into a new entity called Zone Americas (AMS), to be led by Steve Presley. Presley is set to relocate to Nestlé’s headquarters in Vevey, Switzerland, underscoring the company’s move to centralise its leadership.
The dairy giant notes that it has valued Domty at approximately 8,897 million EGP or US$183 million based on the exchange rate for 100% of the shares. The precise number of shares Arla seeks to acquire has yet to be shared.
