Valeo In Talks With Campbell To Buy Snacks Brands: Reports
Ireland's Valeo Foods is in talks with Campbell Soup Co to acquire Kettle Foods operations in the UK and Ireland, reports just-food.com. The deal will also include Metcalfe's Skinny Popcorn.
Kettle's operations in North America and outside of the UK and Ireland will not be a part of the transaction, the report said.
According to a Sky News report, the companies are in advanced negotiations and the deal is likely to close in the coming days.
Both companies have not commented on the deal, which is believed to be worth over £50 million (€54 million).
Recently, Campbell offloaded its Australian snacks unit Arnott's and some of its international operations to KKR & Co Inc for $2.2 billion.
Campbell's international unit, along with its 'fresh' business, was put up for sale in August last year after the company was pressured by investors to improve profitability and stock performance.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.