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
Carlsberg has announced the departure of its chief financial officer (CFO), Heine Dalsgaard, after six years in the position. In a statement, Carlsberg said that Dalsgaard was resigning from the post to take up the role of CFO at a private equity-backed company in a different industry.
Kellogg will split into three independent companies to focus on the snack business, Reuters reported Tuesday. The snacking portfolio will comprise the main business, while the North America cereal unit and the plant-based business will be spun off. The company is also considering a sale of the plant-based business.
The snacks giant says the acquisition will help build on its commitment to “lead the future of snacking” in key geographies worldwide. Once the transaction is completed, Mondelēz will continue to operate the Clif Bar business from its headquarters in Emeryville, California. The snack giant will also continue to manufacture Clif Bars’ products, which include Clif Bar, Luna and Clif Kid, at its facilities in Idaho and Indiana.