Kettle crisps owner considers sale after hiring advisors

Mon, 06 May 2019 | BUSINESS NEWS



US food giant owner Campbell has announced it is considering the sale of its posh crisp brand Kettle after advisors were hired to consider the future of the company.

According to the Press Association, Barclays has been brought on to provide advice on a possible sale as the crisp business as Campbell looks to save money after recent profit warnings.

Kettle currently employs nearly 500 people across two sites in Norfolk and was originally purchased by American good group Snyder's-Lance, along with the Metcalfe's Skinny popcorn brand, as part of the purchase of Diamond Foods in March 2016. The company was then bought by the soup-making firm Campbell as part of its purchase of Snyder's-Lance in 2017.

According to the Press Association, Kettle could be worth between £50 million and £100 million, and is likely to be sold by the food giant as a whole business to interested buyers. However, the sale is coming after the UK arm dived into the red due to "very intense" competition in the UK market, which could prevent many potential buyers from coming forward with an offer.

The hiring of Barclays to advise on a possible deal follows a number of sales and agreements within the crisp sector in 2018, including 11 acquisitions. This included the sale of posh crisp makers Tyrell's and Pipers, which were purchased by Intersnack and PepsiCo, respectively.

Should Campbell decide to proceed with the sale of Kettle, it is likely to consider offers from prospective buyers soon. This sale will also coincide with the sale of its Bolthouse Farms business, as well as its international and fresh food business, which are being sold following pressure from its activist investor Dan Loeb.


Share this article



Latest Businesses for Sale

Closed Chinese Restaurant
Merseyside, UK Wide

Closed Chinese restaurant in spectacular China Town location. Property available to rent. Semi-retirement sale. Offers invited.

Asking Price: £574,995
Turnover: £364,000

Delicatessen
Lancashire, UK Wide

Lucrative delicatessen in Lancashire. Established since 2010. Very busy location with excellent reputation. Offers invited.

Asking Price: £199,500
Turnover: £342,311

Fish & Chip Shop
Grantham, Lincolnshire, UK Wide

Newly refurbished fish and chip shop for sale in Grantham. Operating from a residential trading location. Established 1998. Accommodation available at an additional cost. Free parking available. Offers invited.

Asking Price: £175,000
Turnover: £312,000


View more businesses for sale

News Search

Latest News

 
18
 
Jul
 
 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

 
16
 
Jul
 

Farsound Aviation sold to AGIC for £115 million | BUSINESS SALE

A supply chain management company operating in the aviation ...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
01
 
Dec
 

Railway operator enters administration | ADMINISTRATION

Following cash problems due to an extended closure, CairnGor...

 
01
 
Aug
 

Fray Bentos owner prepares for a sale | BUSINESS SALE

An information memorandum is due to be sent out to potential...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources