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.
The business for sale is a thriving Caribbean restaurant, which has been specialising in delicious and filling Caribbean cuisine since 2016. Serving a wide range of dishes including fried plantain, dumplings, jerk chicken and curry goat, the restau...
LEASEHOLD
The business has built up an excellent reputation within the area and further afield, for the very high quality of their fayre, which has resulted in a very loyal client base, with a high volume of footfall and passing trade along with regular online...
LEASEHOLD
This well-known and unique restaurant has been successfully trading for 15 years. The business has built an enviable reputation for offering a truly authentic Spanish/Mediterranean experience. The premises encompass a relaxed atmosphere with staff of...
LEASEHOLD
|
08
|
|
Apr
|
Insurance broker bought out of administration | BUSINESS SALE
Flintshire-based insurance broker Staveley Head has been acq...
|
07
|
|
Apr
|
Treasury plan to save medium-sized businesses by taking emergency stakes | BUSINESS NEWS
The Treasury is understood to be considering user taxpayer m...
|
07
|
|
Apr
|
Clarks makes store closures and explores financing opportunities | COMMERCIAL PROPERTY
Footwear retailer Clarks has confirmed that it will close a ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
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...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources