Campbell Soup Company has announced that it has signed a definitive agreement to sell its refrigerated soup plant in Everett, Washington State, to an affiliate of the Joshua Green Corporation.
The transaction is expected to close in the third quarter of its financial year, Campbell Soup said in a statement.
The 225,000 square-foot soup plant is a part of the Campbell Fresh division, which includes Bolthouse Farms and Garden Fresh Gourmet.
A Strategic Move
The decision to sell the plant is a part of the Campbell board's strategy aimed at reducing debt, and strengthening its balance sheet.
The company has not disclosed the terms of the transaction.
Joshua Green Corporation is a Seattle-based private investment company that invests in a diverse range of assets.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
